According to AIT news, the senate committee on navy wants the federal government to adequately fund the navy in the fight against oil theft in Nigeria.
The chairman, senate committee on navy, Chris Anyanwu, made the plea at the budget defense of the Nigeria navy in Abuja.
Records show that Nigeria loses about one hundred thousand barrels of crude worth about one point eighteen billion naira daily. Distributed by this ugly trend the senate committee on navy says it is afraid of the development especially in the wake of falling global oil prices.
At the 2014 budget defense before the senate committee, officials of the Nigerian navy described the low level of releases in 2014 saying it negatively affected the operations of he navy.
In another development, the senate committee on water resources expressed worry over the poor releases of funds to the ministry and its 16 parastatals in 2014.
The committee chairman Heineken Lokpobiri while recognizing the role of the ministry described it as an important sector of the economy which needed government support and attention.
