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Attacks By Niger Delta Militants, Oil Vandals Cost Over N1.5 Trillion

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BEVERLY HILLS, December 14, (THEWILL) –The Nigerian Petroleum Development Company (NPDC) has revealed that Nigeria lost N1.5 trillion due to attacks on its facilities in 2016.

This was disclosed in a statement by Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC) on Wednesday , ‎signed by Ndu Ughamadu, Group General Manager, Group Public Affairs Division.

Baru disclosed that the exploration and production subsidiary of the corporation lost the amount due to attacks on its facilities from January till date.

Speaking at 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,” he said

“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.

“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.”

Baru called on all Nigerians to do everything possible to help protect national assets, adding that governments at various levels were working to fight criminality.

He 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.

Story by Oputah David