The Senate Ad hoc Committee on Crude Oil has met with IGP Kayode Egbetokun to deepen collaboration in the fight against crude oil theft in the country.
The committee, led by its chairman, Ned Nwoko (APC-Delta), stated during the visit on Thursday in Abuja that the visit was significant in addressing the pervasive issue of crude oil theft.
This was disclosed in a statement by Mr Nwoko. Mr Nwoko also stated that the meeting highlighted the Senate’s commitment to collaborative efforts with security agencies in safeguarding Nigeria’s oil assets.
He emphasised the need for enhanced cooperation between the Nigerian Police Force and the Senate in addressing oil-related crimes. He harped on improving intelligence sharing to effectively combat crude oil theft.
According to him, there is an urgent need to adopt strategies to strengthen operational coordination between the police and the senate.
Mr Nwoko said, “There is the need to ensure tighter security around critical oil infrastructure, just as the Senate has resolved to support security agencies in curbing economic sabotage and protecting Nigeria’s oil assets.
“By working together, we can develop effective solutions to this pressing issue.”
“The Senate Ad Hoc Committee on Crude Oil Theft remains committed to finding lasting solutions to this challenge, and this meeting marks a significant step in the right direction.”
According to data from the Nigerian Upstream Petroleum Regulatory Commission, between 2002 and 2025, about 353 million barrels of crude oil were stolen from Nigeria’s Niger Delta.
This volume is equivalent to roughly 56.1 billion litres or 1.2 million fuel tankers of 45,000-litre capacity each.
If sold at the current average price of Nigeria’s crude, which is $73 per barrel, the stolen crude is estimated to result in $ 25.7 billion (N39.3 trillion) in losses.
(NAN)
