The House of Representatives has commenced a public investigative hearing into oil theft and losses in Nigeria, with a commitment to tackling corruption in the oil and gas sector. The hearing, which began on July 25, 2024, is chaired by the House Special Committee on Oil Theft/Losses, and has brought together government agencies, industry players, security agencies, civil society organizations, and the media to address the issue.
In his opening remarks, the Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu, represented the Speaker, Rt. Hon. Abbas Tajudeen, and emphasized the importance of protecting Nigeria’s resources and dealing decisively with perpetrators of oil theft and vandalism. He noted that the statistics on crude oil theft are alarming, with an estimated 437,000 barrels lost per day between January and July 2024, resulting in a significant loss of revenue for the government.
The hearing aims to investigate oil theft in all its ramifications, focusing on the actions of criminal gangs, militia groups, local communities, companies, and security agencies. It will also examine the impact of corruption on the oil and gas sector and recommend appropriate remedial measures to the House.
The Deputy Speaker assured stakeholders that the recommendations of the Special Committee would receive priority attention and expeditious legislative action by the House of Representatives. He thanked all participants for their cooperation and expressed hope that the hearing would yield positive results in tackling the challenges facing the oil and gas sector.