By Daniel Dafe,
Senator Ned Nwoko, representing Delta North Senatorial District, has raised concerns over Nigeria’s annual loss of billions of dollars due to oil theft, illegal bunkering, and pipeline vandalism. He described these activities as major threats to the nation’s economy, energy sector, and overall development.
In a post on X following his appointment as Chairman of the Senate Ad-Hoc Committee on Crude Oil Theft, Nwoko emphasized the critical role of crude oil in Nigeria’s economy, stating, "Crude oil remains Nigeria’s most valuable natural resource, and protecting it is essential for economic stability, national security, and the well-being of all Nigerians."
He stressed that tackling oil theft aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, pledging that the committee will work towards ending the sabotage, restoring investor confidence, and ensuring Nigeria benefits fully from its natural resources. "Our goal is to end this sabotage, restore investor confidence, and ensure that Nigeria fully benefits from its natural wealth," he said.
The Senate Ad-Hoc Committee on Crude Oil Theft will investigate the root causes of these illegal activities, identify key actors involved, assess existing security measures, and recommend stronger enforcement strategies. It will also engage key stakeholders, including security agencies, oil companies, host communities, and government agencies, to develop sustainable solutions and strengthen legal frameworks to combat oil theft effectively.
Senator Nwoko reaffirmed his commitment to tackling the issue decisively, stating, "I look forward to working with my distinguished colleagues, security agencies, and industry stakeholders to address this challenge decisively."
Daniel Dafe is the Publisher of Oasis Magazine.
