Nigeria Lost N1.5 Trillion To Attacks On Oil Facilities In 2016

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The Nigerian Petroleum Development Company, NPDC, said Nigeria lost over N1.5 trillion due to attacks on oil installations and facilities in 2016.

This is contained in a statement by the Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru on Wednesday.

Baru revealed this at the 2016 NNPC Security Awareness week with the theme:‎ “NNPC Security: A Task for All Stakeholders” as he added that the exploration and production subsidiary of the corporation lost the amount due to attacks on its facilities from January till date.

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.‎

The NNPC boss also launched 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 had become rampant.

He charged all staff to participate actively in the activities of the Security Awareness Week to imbibe ideas that could help them not only on personal security but also on the protection of national assets.

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