Reps launch investigation on crude oil theft in Nigeria

The House of Representatives, has set up an Ad hoc committee to launch an investigation into the level of alleged crude oil theft in Nigeria.

Headed by Deputy Majority Leader of the House, Hon. Peter Akpatason, as announced by Deputy Speaker Idris Wase, who presided over plenary on Thursday, the committee is to among other things; determine the daily quantity of crude oil sale in the international market, as well as the daily quantity reserve for the country’s refineries.

While the committee was also given the mandate to thoroughly investigate the level of possible environmental damage occasioned by the alleged theft, it was further directed to determine the volume of daily crude extraction in the country.

The resolution was sequel to a motion by Hon. Chukwuka Umeoji, who reported that Nigeria loses about five trillion naira daily to crude oil theft, a sum he said the “government desperately needs to finance the budget”.

According to him, “about 22 million barrels of crude oil, accounting for about N1.3 trillion worth of crude oil was stolen in the Niger Delta in 2019 alone.

The lawmaker noted that apart from the economic losses to the country, occasioned by the theft, there was also environmental damage due to breaches on oil pipelines, and the the incidences are on the rise. 
“It is a problem very dangerous to the economy of the country”, he submitted.

Report of the committee’s findings is expected in eight weeks, for further legislative action.  

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