National Petroleum Development Company lost N1.5 trillion this year to attacks by militants on its facilities in the Niger Delta region.
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru made this known in Abuja at the opening of the NNPC security awareness week.
Baru said that NPDC recorded 59 security incidents which reduced its oil production by 50 per cent and affected its gas supply to power plants in the country.
The attacks, according to NNPC GMD were carried out by militants on the company’s pipeline and flow stations, as well as, stealing of crude oil and refined products.
He said, “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.”
According to some estimates, the attacks reduced Nigeria’s oil production and export by about 50%. Besides, it affected power generation as gas supply to power plants was cut.
The NNPC managing director assured that the governments at various levels were working hard to fight criminality and ensure security and called on all Nigerians not to stay aside.