The Speaker of the House of Representatives, Abbas Tajudeen, Wednesday said the 10th assembly will significantly raise the targets for all government revenue-generating agencies in 2024.

According to him, most of the agencies could generate much more than they currently do by blocking wastage and leakages.

The Speaker also said the nation have incurred losses of oil revenues estimated at N1.29 trillion annually due to industrial-scale theft.

The speaker stated these when he inaugurated a Special Ad Hoc Committee on Oil Theft to investigate the growing spate of pipeline vandalisation, illegal petroleum bunkering and theft.

The committee is being chaired by former majority leader of the House of Representatives, Alhassan Ado Doguwa, representing Doguwa/Tudunwada Federal Constituency, Kano state.

Abbas further lamented that oil theft and other oil related criminalities remain the greatest economic sabotage that has left the country with dwindling revenue.