The House of Representatives has resolved to introduce legislative instruments to halt crude oil theft, which led to loss of over one billion dollars in revenue.
Rep. Benjamin Kalu, Deputy Speaker, House of Representatives, said this during the presentation of the report of ad hoc committee investigating crude oil theft and loss of revenue from oil and gas at the end of the week’s legislative activities.
The Deputy Speaker stated that oil theft accounts for the loss of over $1 billion, which represents a huge percentage of the national budget.
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