The Senate has commenced investigation on oil theft in Niger Delta, describing the 53-year-old menace as vicious.
To this end, the senate has mandated its Committees on Petroleum Resources, (Upstream, downstream,) Gas, Host communities and Niger Delta to conduct thorough investigations on oil thefts in the country.
The Senate specifically mandated the committees to investigate the actions of security forces, militia groups, local populace, oil company employees, and any individuals or entities suspected to be using sophisticated methods to pilfer oil from oil facilities within the country.
This followed a motion sponsored by Ned Nwoko (Delta North) on the urgent need to investigate incessant and nefarious acts of crude oil thefts in Niger Delta region.
The motion was co-sponsored by Sen. Ede Dafinone and Senator Joel Thomas.
Nwoko in his lead debate said Nigeria was largely dependent on crude oil for its economic growth and development.
He said the National Bureau of Statistics (NBS) reported that the oil sector contributed 6.33 per cent of the nation’s GDP which translated to 45.6 billion dollars in 2022.
He said the oil sector in Nigeria plays a pivotal role in providing employment opportunities for millions of Nigerian citizens accounting for 70 per cent of its budget financing, while oil and gas made up 90 percent of export and 85 percent of government revenue in the first quarter of 2022.
Contributing, Sen. Mpigi Barinada (PDP- Rivers) called for proper check on issues of oil thefts in Niger Delta, adding that there was a challenge of collaboration among security agencies.
Senator Osita Izunaso (APC- Imo) said oil bunkering was a major economic sabotage for Nigeria, saying that it was a multifaceted issue.
He said the solution required sustainable measures and not on an ad-hoc basis.
Senator Buhari Abdulfatah called for a review of the laws to provide for punitive measures for offenders.
Senator Adams Oshiomhole (APC-Edo) urged the Senate to support President Bola Tinubu in the fight against oil thieves, saying that it was time to stop oil thefts in Nigeria.
He said it was shameful that so much has been stolen from oil.
The senate president, Godswill Akpiabio said he believes strongly that the Armed Forces were in a better position to secure the country.
The Senate consequently urged the committee to present its report on the investigation in six weeks.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
