The Senate Committee investigating the persistent sabotage of oil installations and rising crude oil theft in the Niger Delta has revealed that Nigeria lost an estimated $300 billion in revenue between 2015 and 2025 due to massive theft, poor measurement practices and systemic weaknesses in the petroleum sector.
The revelation came on Thursday as the Senator Ned Munir Nwoko-led 23-man ad hoc committee presented its interim report to the Senate Committee of the Whole.
According to the panel, decades of irregularities in measurement systems, weak enforcement, and unaccounted crude sales were key factors behind the staggering revenue losses recorded over the period.
Presenting the 40-page report, Senator Nwoko (APC–Delta) said the findings were based on oral submissions from key stakeholders, documents, and records gathered during the investigation, as well as contributions from the general public.
He said the committee recommended a series of measures aimed at curbing crude oil theft, improving accountability across the value chain, and recovering unremitted revenues. One of the key proposals is that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) strictly enforce internationally accepted crude oil measurement standards at all production sites and export terminals.
The panel also urged the Federal Government to equip security agencies with modern surveillance tools, including unmanned aerial vehicles (UAVs), to strengthen monitoring of crude oil assets. It further recommended the establishment of a Maritime Trust Fund to enhance maritime security and infrastructure.
Other recommendations include the creation of special courts to prosecute crude oil theft cases, full implementation of the Host Communities Development Trust Fund under the Petroleum Industry Act (PIA), and the handover of abandoned oil wells to the NUPRC for proper management.
The committee also proposed restoring the Weights and Measures Department of the Federal Ministry of Industry, Trade and Investment to the upstream sector and empowering it with modern measuring equipment to ensure accuracy and transparency in production and export volumes.
A major proposal that sparked debate among lawmakers was the committee’s request to be empowered to “track, trace, and recover” all stolen crude oil and its proceeds locally and internationally.
Senators commended the depth of the report but warned that such recovery powers were beyond the legislature’s constitutional mandate.
Senator Abdul Ningi (PDP–Bauchi) described the report as “detailed and commendable” but stressed that recovery of stolen funds lies with agencies such as the EFCC or ICPC. “We can track and trace, but recovery is beyond the Senate’s powers,” he said. He added that consultant reports referenced by the committee showed crude oil revenue shortfalls of $81 billion between 2016 and 2017 and an additional $200 billion in unaccounted proceeds from 2015 to date.
Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations, backed Ningi’s position and called for more granular evidence, including the names of companies involved and specific volumes lost. “It is not the role of the Senate to recover funds; that lies with appropriate agencies,” he said.
Other lawmakers, including Senator Ibrahim Dankwambo (APC–Gombe), requested a more comprehensive final report that identifies all actors involved in the theft — from companies to individuals and illegal refinery operators. “We need well-by-well and rig-by-rig data to know what was lost and where,” he said.
Senator Enyinnaya Abaribe (APGA–Abia) urged patience and reminded colleagues that the report was interim, stressing the need to await a full and final submission.
Senate President Godswill Akpabio commended Senator Nwoko and his team for what he described as “thorough and courageous work,” but aligned with lawmakers who argued that the Senate could not directly engage in recovery of stolen assets. “Our duty is to track and trace. Recovery is a separate mandate handled by government agencies,” he said.
Akpabio described the estimated $300 billion crude oil loss as “staggering,” noting that it underscores the urgent need for reforms and tighter oversight of Nigeria’s oil and gas sector.
The Senate subsequently adopted the interim report and directed the ad hoc committee to continue its investigation and submit a final report with detailed findings and actionable recommendations.
