The Nigerian Senate has directed five of its committees to commence investigation into oil theft and its impact on petroleum production and oil revenues in the country
The committees which were given the mandate on the floor at Tuesday’s plenary include Petroleum Upstream, Downstream, Gas, Niger Delta and that in charge of Host Communities.
The resolution was reached after a debate on a motion sponsored by Senator Ned Nwoko and two others.
In his lead debate, Senator Nwoko noted that in march 2023, Nigeria lost over 65.7 million barrels of crude oil, valued at $83 per barrel, translating to revenue loss of N2.3 trillion as a result of oil theft.
Contributing to the debate, other lawmakers highlighted the need to address the issue of oil theft and its attendant consequences on the environment and the economy of Nigeria.
In his remarks, President of the Senate, Godswill Akpabio who also alluded to the issues raised by his colleagues, urged the investigative panel to come up with a lasting solution.