Call for Federal Government to Restore Stability in the Oil Industry

• The Mega National Movement’s spokesperson calls for federal government intervention to address the recent fuel scarcity and oil sector issues
• Concerns raised include allegations of fraud, embezzlement, corruption, and irregularities, which disproportionately affect Nigerians and benefit a few individuals

The Mega National Movement’s spokesperson, Ibrahim Tijani, has urged the federal government to restore stability in the oil sector to alleviate the hardships the masses face.

Tijani expressed concerns during a press conference held in Kaduna, particularly highlighting the recent fuel scarcity experienced in Nigeria’s Federal Capital and other major cities and towns.

Additionally, he raised issues related to allegations of fraud, embezzlement, corruption, and significant irregularities within the oil sector. These concerns include fuel subsidy scams, under-remittance of oil sales revenue, corruption, questionable pipeline surveillance contracts, and oil theft.

Tijani emphasized that these problems have hurt the majority of Nigerians while benefiting only a few individuals. The issues encompass embezzlement, misappropriation of funds, and fraudulent accounting practices.

Senate Launches Investigation into Oil Theft Involving Security Forces

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.