The Senate on Thursday identified crude oil theft as the major cause of the country’s economic downturn.
In a heated debate at the plenary, several senators agreed that the failure of the security agencies to protect oil assets was responsible for the dwindling economy in the country.
In his contribution, Senator Olubunmi Adetunmbi (Ekiti North), therefore, charged the security agencies to step up surveillance around the country’s oil assets.
He lamented that at a time different countries recording huge returns on investment due to increase in crude oil prices occasioned by the Russia-Ukraine crisis, Nigeria was left out because of its ability to meet its Organisation of Exporting Countries (OPEC) quota.
Similarly, the Senate Leader, Yahaya Abdullahi, expressed worry over the increasing cases of oil theft despite huge resources allocated to security agencies.
In his remarks, the Senate President, Ahmed Lawan, charged the Federal Government to take necessary steps to stop cases of oil theft in the country.
He said: “This crude oil theft is not something to play politics with, and I don’t think the answers are going to be easy to come by. Radical decisions would have been taken, but before we find an answer we have to live with this, but we have to be as fast as possible to look for answers.
“I had a session with the Chief of Defence Staff about a month ago, and our discussion with him was on the oil theft and the efforts of our security agencies to curb the menace.
“Our security agencies are doing their best but we have people- our people- who are sabotaging the oil industry, because the oil theft is not perpetrated by someday else but by people who are citizens.”
By Abdulkabeer Ambali
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
FEATURE: Ogun residents, waste collectors trade blames, as refuse litter environment
TIJANI ABDULKABEER, a journalist from the University of Ibadan, during a recent trip to Sango Otta, Ogun State took a look...
INVESTIGATION: How online fraudsters siphon victims’ funds through ‘SportyBet’ platform
As Nigeria transits into a cashless society, the evolution also creates opportunities for internet scammers to take advantage of unsuspecting...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...
SPECIAL REPORT: Illegal miners degrade Ekiti community, engage in child labour
The activities of illegal miners in a community in Ekiti State have caused degradation of the environment, as miners engage...
SPECIAL REPORT: Inside the illegal trading of forest woods in Cross River community
“With a N20,000 bribe, an external buyer can influence the youth in host communities , Cross River State, to cut...