A special committee on oil theft was established by the House of Representatives on Wednesday in an effort to combat one of the risks to the country’s economy.
The Speaker of the House of Representatives, Tajudeen Abbas, stated during a ceremony in Abuja that theft, vandalism, and other criminal activity were responsible for the estimated 300,000 barrels of crude oil lost daily in the nation.
The lawmakers claimed that the development has had a significant negative impact on the country, including lost revenue, environmental disasters, risks to regional peace and security, the proliferation of weapons, and an unfavourable investment climate.
