Shola Oyeyipo in Abuja
The House of Representatives Thursday resolved to set up an ad hoc committee to ascertain the quantity of oil stolen on a daily basis and the people responsible for the theft in Nigeria.
The committee is also mandated to determine the volume of oil extracted in the country on a daily basis, determine the quantity sold at the internal markets and the quantity consumed locally.
The decision followed the adoption of a motion on oil theft in Nigeria moved by Hon. Chukwuma Umeoji representing Aguata federal constituency, Anambra State.
Umeoji had noted that Nigeria losses about N5 trillion yearly from oil theft, an amount which the government desperately needs to finance the budget.
He said about 22 million barrels of crude oil, amounting to about N1.3 trillion of crude oil were stolen in the Niger Delta in 2019 alone.
According to him, “Oil theft is not only an economic loss but also causes environmental damage due to breaches on oil pipelines and the incidents are on the upsurge.”