The Nigerian National Petroleum Corporation (NNPC) said yesterday that it recorded 1,447 incidences of pipeline vandalism across the country resulting in the loss of millions of litres of products worth billions of naira in 2016 alone.
NNPC’s Group Managing Director, Dr Maikanti Baru disclosed this when he paid a courtesy call on the Chief of Defence Staff, Gen. Gabriel Olonisakin in his office.
According to Baru, the volume of products lost through vandalism of oil and gas infrastructure alone underscored the need for stakeholders especially security agencies to devise more effective strategies to address the menace.
Acknowledging that security agencies were doing much to address the menace, the GMD said the persistence of oil thieves and saboteurs was affecting even the 2016 budget implementation.
His words, “The supply and distribution of Nigeria’s oil and gas resources remain critical to the survival of our economy but it is saddening to note that these critical national assets have become targets of vandalism and sabotage.
“The budget plan of the Federal Government is grossly affected as a result of the development because of the shortage presently estimated at 700,000 barrels per day.
“The gas to power projections of government is also being hampered due to the activities of the vandals.
“In 2015 alone, pipeline losses of Premium Motor Spirit (PMS) in volume of 643 million litres valued at about N51.3 bn was recorded, while 1,447 incidences of vandalism was reported so far in 2016.’’
Baru said the impact of the development on the economy could be seen in the areas of degradation, unnecessary loss of lives, and high cost of production among others
NNPC’s Group Managing Director, Dr Maikanti Baru disclosed this when he paid a courtesy call on the Chief of Defence Staff, Gen. Gabriel Olonisakin in his office.
According to Baru, the volume of products lost through vandalism of oil and gas infrastructure alone underscored the need for stakeholders especially security agencies to devise more effective strategies to address the menace.
Acknowledging that security agencies were doing much to address the menace, the GMD said the persistence of oil thieves and saboteurs was affecting even the 2016 budget implementation.
His words, “The supply and distribution of Nigeria’s oil and gas resources remain critical to the survival of our economy but it is saddening to note that these critical national assets have become targets of vandalism and sabotage.
“The budget plan of the Federal Government is grossly affected as a result of the development because of the shortage presently estimated at 700,000 barrels per day.
“The gas to power projections of government is also being hampered due to the activities of the vandals.
“In 2015 alone, pipeline losses of Premium Motor Spirit (PMS) in volume of 643 million litres valued at about N51.3 bn was recorded, while 1,447 incidences of vandalism was reported so far in 2016.’’
Baru said the impact of the development on the economy could be seen in the areas of degradation, unnecessary loss of lives, and high cost of production among others
