Nigeria Lost N1.5tr To Pipeline Vandalism In 12 Months – NNPC Boss
Maikanti Baru, NNPC GMD[/caption]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said its production subsidiary, the Nigerian Petroleum Development Company (NPDC), lost N1.5 trillion to pipeline vandalism in 12months.
Baru said this on Wednesday during the opening ceremony of the 2016 NNPC Security Awareness Week with theme, “NNPC Security: A Task for All Stakeholders.”
According to a press statement signed by Ndu Ughamadu, Group General Manager, Group Public Affairs Division, the GMD stated, “In 2016 (January to date), for example, NPDC alone recorded 59 security incidents resulting in crude production shut down/deferment and revenue loss of over N1.5 trillion.”
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Lamenting the rising spate of criminality in the oil and gas sector, he said: “At industry level, we are all conversant with the seriousness and frequency with which national assets in form of pipelines, flow stations etc. are vandalized and crude oil and white products stolen with impunity.”
He urged all Nigerians to do everything possible to help protect the national assets, adding that governments at various levels were doing much to fight criminality and that success can only be achieved when all stakeholders imbibe the consciousness that security was a task for everyone.
“At corporate level, you are all aware that the first item on my 12 Focus Areas is security. This is in recognition of the imperative that without assurances of safety, NNPC, the oil and gas industry, and indeed the country cannot achieve appreciable growth to assure citizens of decent and productive lives,”he stated.
The GMD also used the opportunity to launch the Corporation’s Kidnap for Ransom Policy to raise staff awareness on the need to avoid actions that predispose them to being kidnapped, especially at a time like this when kidnapping for ransom has become very rampant.
