Okunbor said oil theft was one of the reasons that Nigeria could not meet its OPEC quota of 1.8 million barrels a day.

He stated thus: “Two of our most important pipelines in this country today are shut down with hundreds of thousands of barrels a day shut-in.

It is a fact that the issue of theft, whether as a standalone or as the basis for us to meet our OPEC quota is an existential threat for this industry.”

Nigeria lost $1 billion in revenue during the first quarter of this year due to oil theft, the petroleum regulator said last week.

Shell has operated for decades in Nigeria and together with other oil majors, is selling onshore assets to focus on deep water drilling.

Okunbor said local companies which won licences to develop marginal fields would face challenges to transport their crude once they start production.

Marginal fields are smaller oil blocks located onshore or in shallow waters and are typically developed by local companies.

Oil theft has resulted in the declaration of force majeure at Bonny Oil & Gas Terminal, a pipeline transporting crude from the oil-rich Niger Delta to export vessels, among others, creating a hostile environment and disincentive to investors.

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This was contrary to fears that the resumption would be rowdy due to threats to impeach the President of the Senate, Dr Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara.

Visitors were seen thronging the premises, while security agents were observed in their numbers from the first gate of the assembly to the White House.

Besides protest by national assembly legislative aides over alleged non-payment of over N5.8 billion allowances, other people were seen conducting themselves peacefully.

NAN reports that the lawmaker representing Kogi West, Sen. Dino Melaye, was seen dusting Dr Bukola Saraki’s seat in the chamber, shortly before the senate went into a closed session, apparently to show that he was still with the Senate President.

The National Assembly had proceeded on its annual recess on July 24, but could not resume on Sept. 25 as scheduled due to the recent party primary elections.

Some of the issues the lawmakers are expected to deliberate on are: the 2019 Election Budget, confirmation of appointments, approval of loans and passage of pending Bills.

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On Tuesday, the National Assembly at a joint session, on Tuesday, threatened to invoke its powers against the President, if nothing was done to end the ongoing killings in the country, kidnappings, humiliation of perceived political opponents of the president among other reasons.

Reacting, Bashir Baballe, who represents Ungogo/Minjibir Federal Constituency, Kano, wondered why the lawmakers never found it expedient to call for joint session until after security details of the President of the Senate and Speaker of the House were partially withdrawn.

“It is baffling that when people are killed in different parts of the country, the leaders of the National Assembly did not deem it right to call for the joint session until when the security details of Saraki and Dogara were withdrawn a couple of days ago”, he told Daily Nigerian.

“The last time joint session was held was when the Senate chamber was intruded by thugs. No joint session was convened when communities were intruded and people killed by gunmen.

“They simply convened the session because they have some sinister motives.

“On the issue of humiliation, I will say that ‘he comes to equity must come with clean hands’. What was the crime of Senator Ali Ndume and Rep Abdulmumin Jibrin that they were humiliated and suspended by the leadership of the Senate and House?”

Baballe, who is the vice chairman of the House Committee on National Planning, said he raised the issue of insecurity three times on the floor of the House, advising the principal officers of the House to go and meet the president.

“Why didn’t they consider it appropriate to meet the president over insecurity in the country in the past?” Baballe asked.

The lawmaker also faulted the National Assembly’s resolution on the Buhari administration’s fight against corruption, urging his colleagues facing investigations should clear their names.

“If you are accused of corruption, go and clear your name and stop the blame game,” he added.

Simikary, Abubakar Chika, who represents Shiroro/Rafi/Munya Federal Constituency, said the National Assembly should stop crying foul and wake to its responsibility.

He faulted passing vote of no confidence on the Inspector General of Police Ibrahim Idris, saying members opposed the move when it was raised in the House.

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