Crude Oil Theft: Reps constitute ad-hoc committee to investigate

The ongoing house of reps voting to elect new speaker from APC
House of Reps

The House of Representatives has set up a 13-man committee to investigate and determine the volume of oil extracted in the country on a daily basis.

The lawmakers took the unanimous decision after adopting a motion by Chukwuma Umeoji (APGA, Anambra) at the plenary on Thursday.

The committee led by Deputy Leader, Peter Akpatason, was mandated to ascertain the quantity of oil stolen on a daily basis “and the people responsible for the theft.”

Moving the motion, Mr Uneoji said that Nigeria losses about N5 trillion yearly from oil theft.

According to him, this was an amount that the Government desperately needs to finance the budget.

Read also: NUJ suspends SWAN national elections

Mr Umeoji said that about 22 million barrels of crude oil amounting to about N1.3 trillion were stolen in the Niger Delta in 2019 alone.

‘Economic loss’

The lawmaker said that 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.

The house then mandated the committee to determine the quantity of crude oil sold at the International markets and the quantity consumed locally.

The house also mandated the committee to ascertain the level of ecological damage caused by oil theft in the zone.

The deputy speaker of the house, Ahmed Wase, mandated the committee to report back in eight weeks for further legislative action.



Advertisement

PT Mag Campaign AD

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...



BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application