Nigeria Lost Over N1.5 trillion To Attacks By Niger Delta Militants, Oil Vandals In 2016

The Nigerian Petroleum Development Company, NPDC, lost N1.5 trillion due to attacks on its facilities in 2016, an official has said.

Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation, NNPC, stated this on Wednesday.

In a statement ?signed by Ndu Ughamadu, Group General Manager, Group Public Affairs Division, Mr. Baru said that the exploration and production subsidiary of the corporation lost the amount due to attacks on its facilities from January till date.

Mr. Baru disclosed this when he declared open the 2016 NNPC Security Awareness week with the theme:? “NNPC Security: A Task for All Stakeholders”.

He ?lamented the rising spate of criminality in the society at large and in the oil and gas industry in particular leading to loss of much needed revenue.

”At industry level, we are all conversant with the seriousness and frequency with which national assets in form of pipelines, flow stations are vandalised and crude oil and white products stolen with impunity.?

”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,” he said.

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