By Adesuwa Tsan, Abuja
The Senate Ad Hoc Committee on Crude Oil Theft, chaired by Senator Ned Nwoko, has disclosed that it would leverage on digital financial tracking tools to expose illicit transactions, recover stolen revenues, and enhance transparency in Nigeria’s oil sector.
Nwoko reaffirmed his commitment to fighting crude oil theft, emphasising that collaboration, intelligence-sharing, and decisive action are key to securing Nigeria’s economic future.
Speaking at the National Assembly during a visit by the HOSTCON Youth Council of Nigeria, led by its National President, Comrade Emmanuel Fiawei Pathfinder, Nwoko revealed that international experts have been enlisted to trace payments linked to stolen crude.
“No transaction is beyond detection anymore. We can track payments, identify beneficiaries, and hold them accountable. Our priority is to protect Nigeria’s resources and restore economic integrity.”
Acknowledging the involvement of security operatives, oil firms and illegal refiners in oil theft, he said the committee will prioritise stakeholder engagement and organise a public hearing that will bring together the military, police, regulators, and host communities to ensure a coordinated response.
“We need all hands on deck. If you have intelligence on oil theft, now is the time to step forward,” Nwoko urged.
To address security loopholes, the Delta senator said the committee plans to establish an independent security task force comprising fresh personnel from the military, navy, air force, and intelligence agencies.
“The existing security framework has been infiltrated. We are creating a new task force with fresh leadership to ensure accountability.”
Beyond enforcement, the committee will also address host community concerns, including fair compensation, environmental restoration, and economic integration. Nwoko also proposed supporting small-scale refiners with modular refinery projects instead of criminalising them.
“Countries worldwide support small-scale refiners to enhance domestic capacity. Nigeria must adopt a similar model,” he argued.
During the visit, Fiawei commended Nwoko’s leadership, pledging HOSTCON’s support in tackling oil theft. The council honoured Nwoko with the title of Patron and the ‘Credence of Honour’ award for his contributions to national development.