The Nigerian Senate on Thursday announced plans to introduce stiffer penalties for perpetrators of oil theft and terrorism activities in Nigeria, declaring that such crimes may soon attract terrorism charges for major offenders.
Senate President Godswill Obot Akpabio made this declaration during the opening of a two-day public hearing on crude oil theft in the Niger Delta region, stating that the National Assembly could no longer stand by while economic sabotage continues.
"We are prepared to strengthen laws, enhance oversight, and ensure that agencies responsible for protecting our oil assets are held accountable," said Deputy Senate President Jibrin Barau, who represented Akpabio at the event.
The Senate leadership outlined several measures under consideration, including:
- Stiffer penalties for oil theft, with terrorism charges for major offenders
- Mandatory digital metering and real-time monitoring of all oil production and exports
- Greater transparency in crude oil lifting and revenue reporting
- Enhanced collaboration between security agencies including the military, police, NSCDC, EFCC, and international partners to track and intercept stolen crude
The public hearing focuses on addressing what lawmakers described as "incessant and nefarious acts of crude oil theft" that have plagued the Niger Delta region and significantly impacted Nigeria's economy.
This development comes as Nigeria continues to battle significant revenue losses due to oil theft, with authorities estimating billions of dollars in annual losses to illegal bunkering and pipeline vandalism.
The Senate's proposed measures signal a more aggressive approach to combating economic crimes that have long undermined Nigeria's primary revenue source.
