NPDC Loses N1.5tr to Attacks on Assets

Maikanti Baru


THE Nigerian Petroleum Development Company (NPDC), the exploration and production subsidiary of the Nigerian National Petroleum Corporation, NNPC, lost N1.5 trillion to attacks on its facilities from January till date.

Maikanti Baru, group managing director of NNPC, who disclosed this at the opening ceremony of the 2016 NNPC Security Awareness Week with theme, “NNPC Security: A Task for All Stakeholders, 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.

“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”, he said.

He urged all 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.

“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.

He also used the opportunity to launch the Corporation’s Kidnap for Ransom Policy to raise staff awareness on the need to avoid actions that predispose them to being kidnapped, especially at a time like this when kidnapping for ransom has become very rampant.

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, according to a statement signed by Ndu Ughamadu, group general manager, Group Public Affairs Division, NNPC.

—  Dec 15, 2016 @ 14:20 GMT


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