Nigeria Spends N49.68bn on Pipeline Vandalism in Ten Months

The monthly report also showed that a total of 363 vandalised points were recorded from January to October 2020.

In a bid to fight the lingering pipeline vandalism, the Nigerian National Petroleum Corporation has announced in its latest monthly report an expenditure of almost N50bn to repair and manage pipelines in 10 months.

The monthly report also showed that a total of 363 vandalised points were recorded from January to October 2020.

In the report, NNPC said it spent N5.48bn on pipeline repairs and management cost in January; N6.74bn in February; N7.69bn in March; N7.84bn in April; N7.99bn in May and N6.24bn in June.

It spent N1.80bn in July; N1.49bn in August; and N4.41bn in October. No repairs and management cost were incurred in September.

However, NNPC said “products theft and vandalism have continued to destroy value and put NNPC at disadvantaged competitive position.”

Your Friends Also Read:  Tanzania, Rwanda Sign Military Agreements

It also disclosed that 23 pipeline points were vandalised in October, representing about 10 per cent increase from the 21 points recorded in September.

Read Also:

Nigeria’s Anti-Graft Agency Asks Court to Inspect $9,772,800, £74,000 Seized from ex-NNPC GMD

Nigeria’s State Oil Firm, NNPC, Posts ₦28.38Bn Trading Surplus in September

Nigeria’s NNPC Cuts Loss By ₦801.3Bln In 12 Months

Nigeria’s NNPC Records ₦20.36Bn Trading Surplus In July

132 firms bid for NNPC oil swaps

The corporation said, “Of this figure, Mosimi Area in Ogun State, South-western Nigeria accounted for 83 per cent of the vandalised points while Port Harcourt Area in the Niger Delta region accounted for the remaining 17 per cent.

“NNPC, in a joint effort with the local communities and other stakeholders, have continuously strive to reduce and eventually eliminate this menace.”

Your Friends Also Read:  South Africa asks Eskom for options to end power outages

Earlier this month, the national oil company announced that a total of 96 companies from various jurisdictions had indicated an interest in undertaking the rehabilitation of its downstream facilities, ranging from critical pipelines to depots and terminals, through the Build, Operate and Transfer financing model.

The Managing Director of the Nigerian Pipelines and Storage Company, Ada Oyetunde, said the exercise was in accordance with the mandate of the Federal Government to prioritize the rehabilitation of critical downstream infrastructure across the country.

She listed the facilities that will be rehabilitated by successful bidders to include critical pipelines for crude oil supply to the refineries and evacuation of refined products, depots, and terminals.

She said the objective is to get them ready to support the refineries when they become operational after their rehabilitation.

Your Friends Also Read:  French Court Sentences Moroccan to Life in Prison for Terrorism

Poor maintenance and vandalism have left many of the depots and pipelines idle for years, with the number of fuel tankers on the roads increasing and wreaking havoc.

Leave your vote


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares
Previous Article

Africa's Wissa, Moffi Lift Lorient over PSG in 3-2 Thriller

Next Article

Uganda's Minister Threatens Arrest over 'Harmful Propaganda'

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.