NNPC Reveals How Much Nigeria Lost To Pipeline Vandalism In Six Months

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Melee Kyari, has revealed that Nigeria lost $48 million to pipeline vandalism and crude oil theft between January and June, 2020. made this known on Wednesday in Abuja.

Kyari said the Federal Government requires $2billion to replace obsolete pipelines from Excravos to Kaduna.

He spoke via an interactive session on Wednesday themed “Exiting Petroleum Subsidy: Ensuring Self-Sufficiency in Domestic Refining of Petroleum Products” organized by the Senate Joint Committee on Petroleum Resources (Upstream and Downstream).

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According to him, this year alone, the country has lost about $48 million worth of crude oil due to pipeline vandalism.

He, however, said the cash is lower when compared to similar losses in the past.

He said in 2018 and 2019 alone, the country lost $825 million and $725 million, adding that the reduction was because of the increased surveillance by the security agencies.

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