Connect with us

News

Senate Uncovers $300bn Unaccounted Crude Oil Sales

Published

on

About $300billion of crude oil sales can’t be accounted for, according to an interim report by the Senate Ad-Hoc Committee on Crude Oil Theft in the Niger Delta.

The committee, which probed crude oil sales across several years, was chaired by Senator Ned Nwoko.

The Delta-North lawmaker presented the preliminary report of his findings to the Senate on Wednesday in Abuja.

Advertisement

The report noted that a forensic review of domestic crude proceeds and tax oil returns showed differentials, mismatches and unaccounted funds amounting to a staggering $22 billion.

Similarly, it uncovered a shortfall of $81 billion between receipts declared by the Nigerian National Petroleum Company Limited (NNPCL) and those recorded by the Central Bank of Nigeria (CBN) for 2016 and 2017, a development that shocked the Senate.

READ ALSO:Immigration Seizes Senator Natasha’s Passport At Airport

Advertisement

Furthermore, the panel’s review of crude oil sales from 2015 to date, indicated that over $200bn in oil proceeds remained unaccounted for globally.

The report followed months of document reviews and public hearings, tracing the problem to faulty measurement systems, weak regulatory oversight, and poor coordination among government agencies.

The panel identified the use of unverified measuring instruments, lack of meteorological control, ineffective interagency collaboration, and uncoordinated enforcement mechanisms as major enablers of crude oil theft.

Advertisement

The panel also faulted the suspension of the Weights and Measures Department’s activities in the upstream sector under the Petroleum Industry Act (PIA) 2021, saying the decision undermined accountability and accurate measurement in crude oil operations.

READ ALSO:FULL TEXT: DSS Gives Update On Prosecution Of Owo Church Attackers, Other Terror Suspects

In addition, it noted that the absence of a special court to prosecute oil thieves and the non-implementation of the Host Communities Development Trust Fund (HCDTF) under the PIA had contributed to persistent sabotage and theft in oil-producing areas.

Advertisement

The panel projected that the unaccounted domestic crude sales proceeds amount to about $300 billion, calling for urgent local and international tracking, tracing and recovery of stolen crude oil funds for the benefit of the country.

The committee appealed to the Federal Government to mandate the Nigerian Upstream Regulatory Commission (NUPRC) to enforce international crude oil measurement standards at all production sites and export terminals or restore the Weights and Measures Department to its former regulatory role.

Moreover, it recommended that the government provide security agencies with modern surveillance technology and equipment, including unmanned aerial vehicles, to strengthen monitoring of oil facilities and detect theft and leakages in real time.

Advertisement

READ ALSO:Senate Approves Life Imprisonment For Child Defilement Convicts

The panel called for the establishment of a Maritime Trust Fund to support the development and maintenance of maritime infrastructure, training and safety operations, as well as the creation of a special court to promptly prosecute crude oil thieves and their collaborators.

The Nwoko panel advised the immediate implementation of the Host Communities Development Trust Fund (HCDTF) to reduce community sabotage and promote inclusion in the management of oil resources.

Advertisement

Besides, the committee expressed concern over the growing number of abandoned and poorly decommissioned oil wells across the Niger Delta, which it said were leaking oil and gas into the environment and polluting communities.

The report recommended that such wells be ceded to the NUPRC for handover to modular refineries to increase crude availability for local consumption and reduce vandalism.

But, it noted a modest recovery in crude oil production, which increased by 9.5 per cent in 2023 from 490.95 million barrels in 2022 to 537.57 million barrels, indicating an improvement in production and security conditions.

Advertisement

News

Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Published

on

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

Advertisement

READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

Advertisement

Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

Advertisement

 

Continue Reading

News

Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

Published

on

Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

Advertisement

READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

Advertisement

Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

Advertisement

I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

Advertisement

 

Continue Reading

News

Children’s Day: Edo Commits To Child Protection

Published

on

The Edo State Government has reaffirmed its commitment to protecting the rights of children, promoting quality education, and strengthening sports development across the state.

This assurance was given by the governor of Edo State, Monday Okpebholo, during the 2026 Children’s Day Celebration and Governor’s Cup Finale held on Wednesday at the Samuel Ogbemudia Stadium, Benin City.

Addressing pupils, students and teachers,
the governor described children as the pride of Edo State and the future of the nation.

Advertisement

The governor, represented by his deputy, Dennis Idahosa,
noted that the annual celebration provides an opportunity to honour their dreams, talents, and limitless potential.

READ ALSO:Eid-el-Kabir: Edo Deputy Gov Solicits prayers For Okpebholo

Speaking on this year’s Children’s Day theme, “Choose Kindness, Reject Bullying,” the governor said the message was timely and significant, as it emphasizes the need to create safe, supportive, and inclusive environments for children both in schools and communities.

Advertisement

He stated that bullying in all forms — physical, verbal, emotional, or online — has no place in society, adding that the Edo State Government remains fully committed to protecting the rights and dignity of every child.

According to him, the administration will continue to strengthen policies and programmes that promote child protection, discipline, mutual respect, and positive learning environments across schools in the State.

The governor urged children to embrace kindness, compassion, teamwork, and respect for one another, stressing that true strength lies not in intimidation but in empathy, good character, and mutual understanding.

Advertisement

 

Continue Reading

Trending