By Austin Oyibode
ABUJA/Nigeria: Senator Ned Nwoko has described Nigeria’s crude oil theft crisis as a national emergency and vowed sweeping reforms to dismantle what he called a “criminal economy” bleeding the nation of billions in revenue.
Speaking in Abuja during a public hearing of the Senate Ad-hoc Committee on Crude Oil Theft, which he chairs, Nwoko warned that the economic, environmental, and social consequences of rampant oil theft threaten the country’s stability.
“When I moved the motion that led to the formation of this committee, I knew it wasn’t just about stolen barrels—it’s about stolen futures,” Nwoko said. “Nigeria is bleeding resources daily, and our people are paying the price.”
He described the theft crisis as dangerous and deeply entrenched, marked by pipeline vandalism, illegal bunkering, and weak surveillance. Nwoko said investigations are underway to trace stolen crude through international financial systems, and the committee aims to enforce transparency and restore control over Nigeria’s oil wealth.
“This committee is not here to trade blames,” he declared. “We are here to dismantle a criminal economy and protect what belongs to the Nigerian people.”
He stressed that the committee’s top priorities include strengthening institutions, imposing tougher sanctions, and ensuring that host communities benefit fairly from oil resources.
Senate President Godswill Akpabio, represented by Deputy Senate President Barau Jibrin, said the 10th Assembly is considering stiffer penalties, including terrorism charges for major offenders, and compulsory digital metering and real-time monitoring of oil operations.
“We are prepared to strengthen laws, enhance oversight, and hold agencies accountable,” Akpabio said, calling on oil firms to invest in modern surveillance and collaborate with the government in securing the sector.
The hearing brought together key stakeholders and is expected to shape the committee’s final recommendations to the Senate in the coming weeks.
