Ned Nwoko, representing Delta North Senatorial District, has pledged to reinforce legal and institutional measures to combat oil theft and ensure perpetrators face justice.
He made this commitment on Wednesday in a statement on his X page, following his appointment as Chairman of the Senate Ad-Hoc Committee on Crude Oil Theft.
Nwoko, who recently defected to the ruling All Progressives Congress (APC), described the appointment as a crucial national duty aligned with President Bola Tinubu’s Renewed Hope Agenda.
He emphasised that crude oil theft has long posed a serious threat to Nigeria’s economy, draining government revenue, discouraging investment, and jeopardizing national security.
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“Nigeria, as Africa’s largest oil producer, loses billions of dollars annually to oil theft, illegal bunkering, and pipeline vandalism. These activities not only weaken our economy but also disrupt our energy sector and limit the country’s ability to fund critical infrastructure, social services, and development programs.
“This committee is tasked with: Investigating the root causes of crude oil theft and illegal bunkering. Identifying the key actors and networks facilitating these illegal activities.
“Reviewing existing security measures and recommending stronger enforcement strategies. Engaging stakeholders—including security agencies, oil companies, host communities, and government agencies—to develop sustainable solutions”, Nwoko added.
The senator emphasised that crude oil remains Nigeria’s most valuable natural resource, making its protection crucial for economic stability, national security, and the well-being of all Nigerians.
He stated that the committee’s primary objective was to eliminate sabotage, restore investor confidence, and ensure Nigeria maximally benefits from its natural wealth.
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According to him, President Tinubu’s administration prioritises transparency, accountability, and sustainable economic growth.
“I look forward to working with my distinguished colleagues, security agencies, and industry stakeholders to address this challenge decisively. Together, we will secure Nigeria’s oil resources and build a more prosperous future for all.”
