Yesterday, Nigerian National Petroleum Corporation, made claim that that close to N60b was lost to pipeline vandalism occurring nationwide. The company said as it was 2014, N59.597 went off with pipeline damage from oil thieves.
The statistical bulletin given for year 2014 gave an evidence that the pipeline destruction increased by 4 percent when it is compared to the event of 2013. The company noted that 355,690- metric tonnes of petroleum that can be valued at N44b was lost to petrol bunkering.
Relating the event of Kaduna to where the loss is rated 1,080 metric tonnes, the loss can be accounted to be valued close to N200.39 million.
Each year, Nigeria records huge loss of pipeline vandalism due to pipeline bunkering by militants who parade the pipelines to tap petroleum which will be later exported into the market for retail sale. However, using such security measure as NSCDC and local agency like OPC has done little or no protection from the well-armed oil thieves.
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