• Nigeria lost N2 Trillion to militancy, pipeline vandalism – NNPC

    Nigeria lost N2 Trillion to militancy, pipeline vandalism – NNPC

    Renewed militancy in the Niger Delta and oil pipe vandalism have cost Nigeria about $7bn, ( equivalent of N2.1tn) this year alone, according to the Nigerian National Petroleum Corporation (NNPC).

    NNPC Group Managing Director Maikanti Baru speaking at the 2016 Fiscal Liquidity Assessment Committee Retreat in Abuja put the total volume of crude oil thus lost to vandalism at 7000kpd.

    “Over 7000kpd of crude oil has been lost due to vandalism this year. A bulk of the loss is from JV assets,” […]