Senate President Godswill Akpabio yesterday said the National Assembly is considering stiffer penalties for oil theft, including terrorism charges for major offenders.
Akpabio spoke at the opening of a two-day public hearing on the incessant and nefarious acts of crude oil theft in the Niger Delta at the National Assembly.
Represented by Deputy Senate President Barau Jibrin, the Senate President said the 10th National Assembly would not allow the nation’s economy to be gored to death by criminals.
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“We are prepared to strengthen laws, enhance oversight, and ensure that agencies responsible for protecting our oil assets are held accountable.
“Specifically, we will consider stiffer penalties for oil theft, including 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 the military, police, NSCDC, EFCC, and international partners to track and intercept stolen crude,” he said.
Akpabio stressed that the fight against crude oil theft should not be left to the Executive alone, saying oil companies must also invest in modern surveillance technology and secure pipelines.
According to him, host communities must see themselves as first-line defenders of these assets, not victims or accomplices.