Speaker of the House of Representatives, Tajudeen Abbas, says that Nigeria loses  N1.29 trillion annually to oil theft, pipeline vandalism and other forms of criminality.
Abbas spoke through the Chairman, House of Representatives Committee on Defence, Babajimi Benson, at the commissioning of the Nigerian Navy Training Command at Eleme, Rivers State on Friday, adding that Nigeria loses about 300,000 barrels of crude oil per day to theft.
According to him, the trend posed a challenge to the Nigerian Navy to rise up to its mandate of contributing to the survival of the national economy.
He, then, urged the Nigerian Navy to defend and protect the sovereignty of Nigeria’s territorial waters against all forms of threats.
His words, “Unfortunately, it is estimated that Nigeria loses over 300,000 barrels of crude oil daily to oil theft, pipeline vandalism and other forms of criminality. This has led to revenue losses estimated at N1.29trillion annually.
“Therefore, concerned about the adverse effects of oil theft in Nigeria, I inaugurated a special committee on Crude Oil Theft Loses on November 22, 2023, to determine decisive remedial actions to be taken.
“I commend the Nigerian Navy on the steps taken so far, and I urge the Navy to sustain the momentum.”
Earlier, the Chief of Naval Staff, CNS, Vice Admiral Emmanuel Ogalla, had thanked the Rivers State Government for the donation of the entire complex to demonstrate the existing cordial relationship between the Nigerian Navy and the state.
Vice Admiral Ogalla said the relocation of the Headquarters Naval Training Command from Lagos to Ebubu-Eleme in Rivers State would bolster human capacity and  development of personnel of the Nigerian Navy.
Ogalla said, “It will also assist in providing the enabling environment for learning and enable us to carry out the statutory manning of the entire state, and national security of our country.
“This is in line with Mr President’s mandate given to us to provide the enabling environment for the harnessing of the enormous economic potential inherent in our blue economy for the overall good, national prosperity and development.”
Also, the Rivers State Governor, Siminalayi Fubara, had urged the Nigerian Navy to ensure that its investment in the professional development of naval personnel translated into visible advancement in the security and prosperity of the nation’s maritime interests and blue economy, pointing out that, the event completed a development journey that started in April, 2023.