House of Representatives Takes Action: Launches Committee to Combat Oil Theft in Nigeria

The Speaker of Nigeria’s House of Representatives, Hon. Tajudeen Abbas, has officially launched

a Special Ad Hoc Committee on oil theft to address the escalating incidents of pipeline vandalism, illegal oil bunkering, and theft in the country.

During the inauguration ceremony on Wednesday, November 22, the Speaker emphasized the 10th House's commitment to combatting this issue. Abbas expressed concern over Nigeria's daily loss of over 300,000 barrels of crude oil to theft, vandalism, and criminal activities, leading to severe consequences such as revenue loss, environmental disasters, threats to regional peace and security, proliferation of arms, and a negative impact on the investment climate.

Highlighting the financial challenges faced by the nation, Abbas stated that Nigeria is grappling with a historic fiscal deficit of N10.78 trillion, approximately 4.78% of the Gross Domestic Product (GDP), necessitating borrowing to cover the gap. He announced the House's intention to raise targets for government revenue-generating agencies, emphasizing the need for improved efficiency and reduced wastage.

The Speaker charged the committee to investigate all aspects of oil theft, examining the actions of various stakeholders, including criminal groups, militia, local communities, company employees, and security agencies. Emphasizing diligence, objectivity, urgency, and patriotism, Abbas urged the committee to provide sustainable solutions that enhance the integrity of the oil sector and contribute to long-term development.