- The Nigerian Senate initiates a probe into oil theft, focusing on security forces’ involvement and their collusion with illicit actors
- Oil theft costs Nigeria a staggering N2.3 trillion in revenue loss in 2023, prompting comprehensive investigations by Senate committees
The Nigerian Senate has initiated a comprehensive investigation into the issue of oil theft in the country, focusing on the involvement of security forces and militia groups in the illegal activity.
The decision to investigate was prompted by a motion presented during a Senate plenary session by Senator Ned Munir Nwoko representing Delta North. Senator Nwoko highlighted that statistical data have revealed the severe socio-economic consequences of pipeline vandalism and oil bunkering in Nigeria, costing the nation a staggering revenue loss of N2.3 trillion in the current year.
Senator Nwoko alleged that some individuals within security agencies have colluded with unscrupulous actors in the oil industry to engage in oil theft. These illicit activities have undermined the collaborative efforts of the Joint Task Force comprising the Nigerian military and various security entities working to combat the menace of oil theft.
He further noted that accusations and counter-accusations of oil bunkering and other crimes have emerged between the military and local militia groups, underscoring the significant level of sabotage and disruption to Nigeria’s economic backbone.
In 2022, Nigeria reportedly suffered daily losses of approximately 437,000 barrels of crude oil, equivalent to a value of $23 million, due to criminal activities. In March 2023, the country incurred a substantial loss of 65.7 million barrels of crude oil, valued at $83 per barrel, resulting in a staggering revenue loss of N2.3 trillion due to oil theft.
Senator Nwoko called on the Senate to conduct a comprehensive investigation into the activities of oil thieves and their collaborators within the security forces.
Several senators expressed the need for punitive measures to combat oil bunkering, and others highlighted the organized nature of oil theft involving both the bunkers and security operatives.
The Senate has instructed its committees on Petroleum Resources (Upstream, Downstream, and Gas), Host Communities, and Niger Delta Affairs to conduct a thorough investigation into the actions of security forces, militia groups, locals, oil company employees, and any individuals or entities suspected of using sophisticated methods to pilfer from oil facilities.
Senate President Godswill Akpabio emphasized that oil theft has negatively impacted Nigeria’s oil production capacity despite its growing population. The investigative committees are expected to complete their probe and report their findings to the Senate within six weeks.