Nigeria Loses ₦5trillion Yearly To Oil Theft, Reps Lament

Nigeria Loses ₦5trillion Yearly To Oil Theft, Reps Lament

The House of Reps have resolved to set up an ad-hoc committee to ascertain the quantity of oil stolen on a daily basis and the people responsible for the theft within the country. 

The Reps decision followed the adoption of a motion on oil theft in Nigeria moved by Hon. Chukwuma Umeoji who represents Aguata federal constituency, Anambra State.

Hon. Umeoji had stressed that Nigeria loses about ₦5 trillion yearly from oil theft, an amount which the government desperately needs to finance the budget.

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