Ad hoc committee chaired by Ned Nwoko urges strict monitoring, deployment of surveillance drones, and creation of special court for oil theft cases…
The Senate has received the interim report of its ad hoc committee investigating crude oil theft and related sabotage in the Niger Delta, revealing alleged revenue losses exceeding $300 billion from unaccounted-for crude oil proceeds over the years.
The report was presented during Wednesday’s plenary by Senator Ned Nwoko (Delta North), who chairs the investigative committee.
Nwoko said the committee’s preliminary findings exposed “massive” leakages and systemic failures that have cost Nigeria billions of dollars in lost oil revenue.
“Our findings so far indicate over $300 billion in unaccounted crude oil proceeds,” Nwoko said. “The committee recommends strict enforcement of internationally recognised crude measurement standards at all production sites and export terminals.”
The senator recommended that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) be directed to acquire modern measurement technology, or that the responsibility be reassigned to the Weights and Measures Department under the Federal Ministry of Industry, Trade and Investment.
The report further urged the Federal Government to deploy advanced surveillance systems, including unmanned aerial vehicles (drones), to support security agencies in combating oil theft.
It also proposed the creation of a Maritime Trust Fund to enhance maritime training, safety, and security across the country’s waterways.
“The Federal Government should establish a special court to promptly and properly prosecute crude oil thieves and their collaborators,” Nwoko added.
“It should also implement the Host Communities Development Trust Fund under the Petroleum Industry Act (PIA) to help reduce sabotage.”
The committee also advised that all abandoned and decommissioned oil wells be handed over to NUPRC, which in turn should allocate them to modular refineries to boost local crude supply and reduce illegal tapping.
According to Nwoko, forensic reviews conducted by consultants revealed that $22 billion, $81 billion, and $200 billion from different audit periods remain unaccounted for, urging that the committee be empowered to trace and recover proceeds of stolen crude oil both locally and internationally.
However, during the plenary, several senators raised concerns about the scope of the committee’s mandate.
Senator Abdul Ningi (Bauchi Central) noted that the panel could trace and document losses but does not have the legal authority to recover stolen funds.
Senator Solomon Adeola (Ogun West) stressed that the consultants must provide specific names of companies and individuals implicated in the report.
“The funds mentioned here, if aggregated, are worth almost $300 billion. The consultant must come up with a detailed list of those responsible,” Adeola said.
Senator Ibrahim Dankwambo (Gombe North) added that the final report must identify the specific actors, wells, rigs, and locations where theft occurred, while Senator Enyinnaya Abaribe (Abia South) described the submission as an interim document pending further action.
Senator Lola Ashiru (Kwara South) remarked that the estimated losses were equivalent to “almost 10 years of Nigeria’s national budget,” urging the committee to sustain its momentum.
In his closing remarks, Senate President Godswill Akpabio commended the committee’s work and directed it to continue its investigation and submit a comprehensive final report in due course.
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