Following reports of loss of millions of naira to oil theft and the attendant economic sabotage, the Speaker of the House of Representatives, Dr Tajudeen Abbas, has inaugurated a special committee to investigate the menace.
Dr Abbas stated that oil theft and other oil-related criminalities pose a great threat to the nation’s economy and remain the greatest economic sabotage that has left the country with dwindling revenue.
“Some of the severe consequences of this include revenue loss, environmental disaster, threats to regional peace and security, proliferation of arms, and a poor investment climate”, he said.
The Speaker said that the committee’s primary objective is to determine the causes of oil theft and recommend remedial measures to the House.
He charged the committee members to investigate all dimensions of oil theft, focusing on the actions of all actors, including criminal gangs, militia groups, the local populace, company employees and security agencies.
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