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Nigeria lost N2.3 trillion to crude oil theft in 2023 – Senate 

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crude oil theft

The Nigerian Senate has revealed that the country has lost N2.3 trillion to the menace of crude oil theft so far in 2023.

Senator Ned Nwoko disclosed this information on October 10, emphasizing that existing statistical data indicates that pipeline vandalism and oil bunkering have led to a significant socio-economic crisis in Nigeria.

He further pointed out that the involvement of certain security agents collaborating with the perpetrators has hindered the endeavours of those dedicated to resolving this issue.

He said:

On the other hand, Senator Buhari Abdulfatai called for punitive measures to combat oil bunkering. He said:

In the meantime, Senator Adams Oshiomhole asserted that oil theft constitutes an organized criminal activity involving both bunkers and security personnel.

He went on to explain that this is the reason why many security agents actively sought postings in oil-producing communities.

In response to these statements, Senate President Godswill Akpabio instructed the Senate committees responsible for Petroleum Resources (Upstream, Downstream, and Gas), Host Communities, and Niger Delta Affairs to initiate investigations into the activities of security forces, militia groups, local residents, oil company employees, and any individuals or entities suspected of employing sophisticated methods to pilfer from oil facilities.

He urged these committees to conduct a comprehensive inquiry and present their findings to the Senate within a six-week timeframe.

 

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