Nigerian Senate has inaugurated an Ad-hoc committee to investigate alleged economic sabotage in the petroleum sector, warning that the nation cannot afford to tolerate such acts at this time.
Gatekeepers News reports that the Senate President Godswill Obot Akpabio emphasised that the petroleum sector is the backbone of Nigeria’s economy and any threat to it is a direct threat to the country’s economic survival.
Akpabio lamented the long-standing economic sabotage in the petroleum industry, particularly pipeline vandalism, and charged the committee to identify the perpetrators, their methods, and networks.
He stated, “This industry… 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.”
The Senate President highlighted the devastating impact of economic sabotage, including revenue losses, undermined investor confidence, and distorted market operations.
He emphasised that the issue is not just financial but also a matter of national security and sovereignty, warning that if left unchecked, these acts could cripple the economy and hinder progress for generations.
The Ad-hoc committee, chaired by Senate Leader Michael Bamidele Opeyemi, is tasked with collaborating with relevant agencies, industry experts, and stakeholders to uncover the root causes of the economic sabotage activities and bring perpetrators to account for their actions.
