By Austin Oyibode
In a compelling address before stakeholders at the National Assembly, Senator Ned Nwoko on Thursday decried Nigeria’s rampant crude oil theft as a national emergency, calling for urgent and comprehensive action to halt the crisis that continues to erode the nation’s economic stability.
Chairing the Senate Ad-hoc Committee on Crude Oil Theft during a public hearing in Abuja, Nwoko emphasized the vast human, economic, and environmental costs of the illicit trade.
“When I moved the motion that led to the formation of this committee, I knew it wasn’t just about stolen barrels, it’s about stolen futures,” he declared. “Nigeria is bleeding resources daily, and our people are paying the price.”
The session convened representatives from government ministries, regulatory agencies, security outfits, host communities, and industry experts, marking a pivotal stage in the Senate’s investigation into the scope and causes of oil theft and its commitment to implement tangible reforms.
Senator Nwoko outlined a dire portrait of the crisis: billions of dollars lost annually, systemic pipeline vandalism, widespread illegal bunkering, and inadequate surveillance mechanisms.
“The scale of oil theft in Nigeria is not only shameful, it is dangerous. It cripples our economy, devalues our currency, destroys our environment, and deepens the poverty of communities that should be prospering from their natural wealth,” he said.
He further disclosed that technical and forensic efforts are underway to trace the flow of stolen crude oil through global supply chains and illicit financial networks.
“This committee is not here to trade blames or make excuses. We are here to dismantle a criminal economy, restore order to the oil and gas sector, and safeguard what rightfully belongs to the Nigerian people,” Nwoko added.
The Senator highlighted the committee’s priorities, including institutional reforms, enforcement of stiffer penalties, and inclusive policies to ensure oil-producing communities benefit fairly from local resources.
He underscored that tackling oil theft is central to reversing Nigeria’s economic woes, particularly amid foreign exchange shortages and inflationary pressure.
“We are listening. We are acting. And we will not stop until this tide is turned,” Nwoko affirmed.
Delivering the opening remarks, Senate President Godswill Akpabio, represented by Deputy Senate President, Senator Barau Jibrin (APC, Kano North), reiterated the Senate’s resolve to confront the scourge head-on.
He emphasized the 10th National Assembly’s readiness to fortify existing laws, intensify oversight, and ensure that all relevant agencies are held accountable.
“The Nigerian Senate is considering the enforcement of tougher penalties for oil theft, including the classification of major infractions as acts of economic terrorism,” Akpabio said.
Other proposed measures include compulsory digital metering, real-time monitoring of production and exports, and enhanced transparency in crude oil lifting and revenue reporting.
Akpabio also called for stronger collaboration between security forces, anti-corruption agencies, and international partners to trace and disrupt the global supply chain of stolen crude.
He urged oil companies to invest in cutting-edge surveillance technologies and pipeline security.
The public hearing is expected to shape the committee’s final report and recommendations, which will be presented to the full Senate in the coming weeks, a potential turning point in Nigeria’s long battle against oil theft and its associated consequences.
