The Nigerian Senate is exploring significantly stiffer penalties for crude oil theft, including the possibility of charging major offenders with terrorism. This declaration was made by Senate President Godswill Akpabio, who affirmed the 10th National Assembly’s commitment to safeguarding Nigeria’s economic lifeline.

Speaking at the opening of a two-day public hearing on crude oil theft in the Niger Delta, Akpabio, represented by Deputy Senate President Senator Barau Jibrin (APC, Kano North), stated, “We are prepared to strengthen laws, enhance oversight, and ensure that agencies responsible for protecting our oil assets are held accountable.”

Among the stringent measures being considered are terrorism charges for significant oil theft offenses, mandatory digital metering, and real-time monitoring of oil production and exports.

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The Senate is also advocating for increased transparency in crude lifting and revenue tracking, alongside enhanced collaboration among the military, police, anti-graft agencies, and international partners to intercept stolen crude oil.

Akpabio emphasized the critical role of oil companies in investing in modern surveillance technologies and pipeline security. He also called upon host communities to act as frontline defenders of national assets.

“As I declare this public hearing open, I charge all stakeholders to engage with utmost seriousness. The recommendations from this session must lead to actionable, measurable, and time-bound solutions. Nigeria’s survival depends on it,” he asserted.

Delivering a stern warning to those involved in the illicit trade, Akpabio declared, “To the criminals stealing our crude oil, your time is up. To the agencies tasked with protecting our resources, the nation is watching. The Senate expects nothing less than a robust, no-holds-barred report that will guide decisive legislative and executive actions. It is time to take back what belongs to Nigeria.”

The Senate President expressed grave concern over reports indicating that Nigeria loses between 150,000 and 400,000 barrels of crude oil daily to theft, resulting in billions of dollars in lost revenue annually.

He underscored the far-reaching consequences of this crime, stating, “This theft is not a victimless crime. It directly undermines our economic stability, devalues the naira, starves critical sectors of funding, and perpetuates poverty in oil-producing communities. Worse still, it finances illegal arms, fuels violence, and emboldens criminal networks that threaten national security.”