The Nigerian House of Representatives has launched a major initiative to curb massive losses in the country’s oil revenue. Lawmakers warned that billions of dollars are lost annually due to unverified crude shipments, under-reported volumes, and non-repatriation of export earnings.

At a capacity-building workshop in Abuja, the Chairman of the Ad-hoc Committee on Pre-shipment Inspection of Exports and Non-Remittance of Crude Oil Proceeds, Rep. Seyi Sowunmi, said these revenue leakages have deprived Nigerians of funding for essential infrastructure, schools, hospitals, and other development projects. He emphasized that the losses are not just figures but represent missed opportunities for millions of citizens.

The committee was established after evidence of widespread non-compliance with export and pre-shipment regulations emerged. Its mandate is to investigate institutional weaknesses, engage key stakeholders, and recommend legislative and policy reforms to improve transparency and accountability.

“This is a national mission to recover value and restore confidence in Nigeria’s economic governance,” Sowunmi said. He stressed the importance of tracking every barrel of crude, ensuring all proceeds are returned to the country, and holding all actors in the export chain accountable.

The workshop aims to equip lawmakers with the skills to analyze complex export data and make evidence-based decisions. Experts in maritime operations, financial intelligence, trade compliance, and forensic auditing are guiding the sessions.

Rep. Peter Aniekwe noted that some entrenched interests may resist these reforms but urged lawmakers to remain firm, saying, “We must do the right thing and deliver results Nigerians can be proud of.”

The training covers Nigeria’s oil and gas export framework, pre-shipment inspection systems, revenue flows and repatriation, investigation of non-remittance, and strategies for legislative oversight and reform.