Senate Forms Ad-hoc Committee to Investigate Economic Sabotage in Petroleum Sector
In response to the devastating impact of economic sabotage on the nation’s economy, the Senate on Monday constituted a fourteen-member Ad-hoc Committee to investigate alleged sabotage in the petroleum sector. Senate President Godswill Akpabio inaugurated the committee in Abuja, emphasizing the critical role of the petroleum industry as the backbone of Nigeria’s economy.
Akpabio stressed that any threat to the petroleum sector is a direct threat to the nation’s economic survival and that no government can tolerate compromise in this key industry. He lamented the persistent economic sabotage, particularly pipeline vandalism, and underscored the importance of the committee’s task to investigate and report back for further legislative action.
“This industry, without a doubt, is the backbone of Nigeria’s economy, and any threat to its integrity is a direct threat to the economic survival of our beloved nation,” Akpabio stated. He highlighted the petroleum sector’s role in funding infrastructure, education, healthcare, and other vital areas, while pointing out that sabotage activities like illegal bunkering, pipeline vandalism, and oil theft have significantly harmed the economy.
Akpabio further explained the severe consequences of these illegal activities, including revenue losses, undermined investor confidence, distorted market operations, and exacerbated economic challenges. He emphasized that this issue extends beyond financial concerns, touching on national security and sovereignty.
“If left unchecked, these acts of sabotage could cripple our economy and hinder our progress for generations to come,” he warned.
The Senate President assured that the Red Chamber would act decisively to address these criminal acts, identify those responsible, and hold them accountable. He charged the committee to collaborate with relevant agencies, industry experts, and stakeholders to uncover the root causes of economic sabotage, identify the perpetrators, their methods, and their networks.
Senate Leader, Senator Opeyemi Bamidele will chair the Ad-hoc Committee. Other members include Senators Osita Izunaso, Osita Ngwu, Adams Oshiomhole, Diket Plang, and Adetokunbo Abiru, among others.
