The House of Representatives has launched a determined effort to stop the massive revenue leakages that have been crippling Nigeria's oil and non-oil export sectors, with lawmakers vowing to recover billions of dollars lost annually through systemic failures.
National Mission Against Revenue Loss
Speaking at the opening of a capacity-building workshop for committee members in Abuja on Tuesday, November 18, 2025, the Chairman of the Ad-hoc Committee, Rep. Seyi Sowunmi, revealed the staggering scale of Nigeria's financial losses. He emphasized that the country loses billions of dollars each year, which translates into hundreds of hospitals, schools, and critical infrastructure being denied to citizens.
The committee was established in response to mounting evidence of systemic exploitation across the entire export value chain. Sowunmi clarified that the investigation represents a national mission rather than a witch-hunt, with the primary objective of closing loopholes, recovering lost value, and restoring confidence in Nigeria's economic governance.
Comprehensive Export Chain Examination
For the first time in Nigeria's history, the committee is examining the complete export chain from crude oil flows to financial repatriation through a transparent, data-driven approach. The capacity-building workshop organized in Abuja is specifically designed to equip lawmakers with the technical expertise needed to thoroughly scrutinize export data, maritime operations, and financial intelligence.
Lawmakers are receiving guidance from experts in multiple specialized fields including:
- Trade compliance
- Forensic auditing
- International oil transactions
Sowunmi described this initiative as a crucial investment in competence and national integrity, stressing that democracy thrives when citizens are properly informed and institutions maintain transparency.
Digital Transformation and Expected Resistance
The committee chairman emphasized that Nigeria must urgently transition to a fully digitized export-tracking system where every shipped barrel is meticulously monitored and every earned dollar is properly accounted for. He insisted that the era of impunity and unaccounted exports is finally coming to an end.
Also speaking at the event, Rep. Peter Aniekwe warned committee members to prepare for significant pushback from vested interests who oppose transparency in oil revenues. Despite anticipating strong resistance, Aniekwe urged his colleagues to stand firm, emphasizing that the entire country depends on this crucial revenue stream and that Nigerians will ultimately appreciate their work.
The lawmakers have committed to strengthening oversight and implementing comprehensive reforms to ensure that natural resource revenues directly benefit the Nigerian people, marking a potential turning point in the nation's economic governance.
