Nigeria Losing More Crude Oil to Theft Than Some OPEC Members Produce – Nwoko

Nigeria’s crude oil theft has reached such a severe level that the country is now losing more oil than some OPEC member states produce, according to Senator Ned Nwoko, Chairman of the Senate Ad Hoc Committee on Crude Oil Theft.

Speaking in Abuja on Thursday, Nwoko described the theft as a multi-dimensional crisis—damaging the economy, polluting the environment, and disrupting the lives of host communities.

He warned that the ongoing losses are weakening the Naira and depriving the nation of critical revenue required for infrastructure, healthcare, education, and social development.

“The scale of this theft is staggering, with reports indicating losses of over 200,000 barrels per day—more than the daily output of some OPEC nations,” said Nwoko, who represents Delta North Senatorial District.

He revealed that the Senate Ad Hoc Committee recently held a two-day public hearing to investigate the widespread theft, illegal bunkering, pipeline vandalism, and regulatory lapses in the petroleum sector. The hearing, he emphasized, was a decisive step toward tackling one of Nigeria’s most pressing national challenges.

“Nigeria loses billions of dollars annually to crude oil theft,” he said. “This criminal enterprise fuels corruption, finances illegal activities, and causes devastating environmental damage through oil spills and pollution.”

Nwoko explained that the hearing aimed to uncover the root causes of the crisis, evaluate the effectiveness of current surveillance and enforcement mechanisms, and identify gaps in regulation and legislation that allow such crimes to flourish.

“It also provided an opportunity to engage with stakeholders, including security agencies, host communities, oil companies, and regulatory bodies to propose actionable solutions,” he added. “Strengthening legal frameworks and ensuring stricter penalties are part of our strategy to deter offenders.”

The senator stressed that Nigeria’s future depends on how effectively it confronts this menace.

“We cannot continue to hemorrhage resources while our people suffer,” he stated. “The future of our economy and the well-being of generations to come hinge on the actions we take today.”

He affirmed that the National Assembly is committed to passing legislation to strengthen oversight agencies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigeria Extractive Industries Transparency Initiative (NEITI), and the National Security Adviser’s office (NSA).

Additionally, the Senate plans to enhance inter-agency cooperation between the military, police, NSCDC, and private security firms while promoting transparency in oil lifting and metering processes.

Nwoko also disclosed that the committee has already begun collaborating with forensic experts to trace crude oil theft from the point of lifting through to sales and banking transactions. He said early results from the investigation have been promising, and the committee will make its findings public in due time.

“Together, we can reclaim Nigeria’s stolen wealth, secure our energy infrastructure, and restore confidence in the petroleum sector,” he concluded.