NNPC to Senate: NPDC loses N1.5tr to assets attacks

Apparently in reaction to the Senate position to investigate the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, Nigerian Petroleum Development Company (NPDC), over non-remittance of $5.584 billion due to the Federation Account, the Group Managing Director of NNPC, Dr Maikanti Baru Wednesday stated that its subsidiary, NPDC lost N1.5 trillion to attacks on its facilities from January till date.

According to the statement from the Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, the GMD disclosed this at the opening ceremony of the 2016 NNPC Security Awareness Week with theme, “NNPC Security: A Task for All Stakeholders”, as 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.

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 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, however, urged 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.