The House of Representatives’ Ad-hoc Committee on Pre-shipment Inspection of Exports and Non-Remittance of Crude Oil Proceeds has raised the alarm over massive revenue leakages that threaten Nigeria’s economic development.
Chairman of the committee, Rep. Seyi Sowunmi (LP–Lagos), said at the opening of a capacity-building workshop in Abuja on Tuesday that billions of dollars are lost annually due to unverified crude shipments, under-declarations, and non-repatriation of export proceeds. He warned that these losses have deprived citizens of essential infrastructure, hospitals, schools, and opportunities.
“For decades, crude oil has been our economic backbone, yet the system is bleeding,” Sowunmi said. “These leakages are not just numbers — they represent lost futures for millions of young Nigerians.”
He stressed that the anomalies extend beyond crude oil to other export sectors, emphasizing the constitutional responsibilityg of parliament to protect the integrity of Nigeria’s revenue system.
The committee was established following “alarming evidence” of widespread non-compliance with export and pre-shipment laws. Its mandate is to uncover institutional failures, engage stakeholders, and propose strong legislative and policy reforms.
“This is not a witch-hunt,” Sowunmi emphasized. “It is a national mission to recover value, close loopholes, and restore confidence in Nigeria’s economic governance.”
The workshop is aimed at equipping lawmakers with technical expertise to interrogate complex export data, understand crude transaction flows, and make evidence-based decisions. Experts in international trade compliance, financial intelligence, maritime operations, and forensic auditing are serving as facilitators.
“This is an investment in competence, credibility, and national integrity,” Sowunmi said. “Our task is urgent. Nigeria cannot keep losing foreign exchange because of weak inspection regimes or unremitted proceeds. Every barrel must be digitally tracked, every dollar repatriated, and every actor in the export chain held accountable.”
He added that the committee seeks to modernize Nigeria’s export governance through technology, strict compliance, and enforceable sanctions.
