By Nelson Ogbu
The House of Representatives Ad-hoc Committee on the need to investigate crude oil theft and loss of revenue accrued from the oil and gas sector in Nigeria, today began public hearing at National Assembly Complex.
Recall that the constitution of this all important committee was necessitated by a motion raised on July 12th, 2023 by the member representing Ado/Okpokwu/Ogbadibo federal constituency of Benue State, Hon Philip Agbese to investigate the alleged theft of crude oil and the attendant loss of revenue in the nation’s oil and gas sector.
In the motion, Agbese expressed serious worries that a 2022 report by the Nigerian Extractive Industry Transparency Initiative (NEITI) revealed that about 619.7 million barrels of crude oil, valued at $46.16 billion have been stolen in the last 12 years.As a result, the Green Chamber agreed to set up an ad-hoc committee to unravel those complicit in the alleged crime to ensure justice.
The hearing today where relevant stakeholders in the oil and gas sector including security agencies were present showcased strong determination by the lawmakers to uncover the mystery behind the age long malpractices in the industry.