Senator Ned Nwoko Vows to Tackle Oil Theft as Chairman of Senate Ad-Hoc Committee
ABUJA/Nigeria: Senator Ned Nwoko, representing Delta North Senatorial District, has decried Nigeria’s staggering financial losses due to crude oil theft, illegal bunkering, and pipeline vandalism, stating that the menace costs Africa’s largest oil producer billions of dollars annually.
In a post on X following his appointment as Chairman of the Senate Ad-Hoc Committee on Crude Oil Theft, Nwoko emphasized that these illicit activities weaken the nation’s economy, disrupt the energy sector, and hinder the government’s ability to fund critical infrastructure, social services, and development programs.
“Crude oil remains Nigeria’s most valuable natural resource, and protecting it is essential for economic stability, national security, and the well-being of all Nigerians,” he stated. He further described his new role as a “pressing national assignment” in alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda, stressing that oil theft has long undermined government revenue, discouraged investment, and posed serious national security threats.
“Our goal is to end this sabotage, restore investor confidence, and ensure that Nigeria fully benefits from its natural wealth,” he said, adding that the committee would prioritize transparency, accountability, and economic growth under the Tinubu administration.
The Senate Ad-Hoc Committee on Crude Oil Theft has been mandated to investigate the root causes of illegal activities in the oil sector, identify key actors and networks involved, review existing security measures, and propose stronger enforcement strategies. It will also engage security agencies, oil companies, host communities, and relevant government bodies to develop sustainable solutions and strengthen legal frameworks to curb oil theft and hold perpetrators accountable.
Senator Nwoko reaffirmed his commitment to collaborating with his colleagues, security agencies, and industry stakeholders to address the issue decisively, ensuring Nigeria maximizes the benefits of its natural resources.
