The exploration and production subsidiary of the Nigerian National Petroleum Corporation (NNPC), The Nigerian Petroleum Development Company (NPDC), has said it lost N1.5 trillion to attacks on its facilities in 2016 alone.
Group Managing Director of NNPC, Dr Maikanti Baru, revealed this at the opening ceremony of the 2016 NNPC Security Awareness Week with theme, “NNPC Security: A Task for All Stakeholders” in Lagos on Wednesday.
Baru cried out against rising criminality in the society, especially 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 etc. are vandalized 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”, the GMD lamented.
He called on Nigerians to help protect the national assets, saying that governments at various levels were doing much to end criminality.
He said success in the fight against terror can only be achieved when all stakeholders know that security was a task for everyone.
“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”, he stated.
The GMD also launched the Corporation’s Kidnap for Ransom Policy to raise staff awareness on the need to avoid actions that exposes them to being kidnapped, especially during the festive period when kidnapping for ransom has become very rampant.
Dr Baru charged staff to participate actively in the activities of the Security Awareness Week to imbibe ideas that could help them not only in personal security, but also in the protection of national assets.
Security of oil and gas pipelines in the Niger Delta region has been a challenge for past administrations, especially since President Muhammadu Buhari took over office since May 2015.
Several cases of pipeline vandalism and bombings have occurred, shutting down oil and gas production and export, which in turn resulted in loses of revenue, including foreign exchange earnings for the country.
In its bid to nib the problem in the bud, the Federal government had tried dialogue with various aggrieved groups in the Delta region, all to no avail, leading to the use of coercion.
With the OPEC and non OPEC cut deal already in place, and oil already hitting above $57 per barrel, the government hopes the country could resume production and export, thereby making more money for the diversification of the economy and growth starting from 2017.

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