The Nigerian National Petroleum Company Limited (NNPC) spent close to N34.47 billion (18 months) to manage and repair pipelines in order to address the persistent problem of pipeline vandalism in the nation.
According to the Nigerian Extractive Industries Transparency Initiative’s most recent Oil and Gas Report, which covers 2021, N22.05 billion was spent on pipeline maintenance and repairs.
The NNPC reported that a total of 350 pipeline points were vandalised in the first half of 2021.
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The NNPC also said that it had consistently worked to lessen the threat of pipeline vandalism in cooperation with the local communities and other stakeholders.
The CEO of NNPCL, Mele Kyari, said that the introduction of Operation White and the Automated Downstream Operations and Financial Monitoring Centre had made it possible for the corporation to monitor product supply and distribution across the country.
He said that had reduced illicit practices, such as oil theft and cross-border smuggling of petroleum products, which used to cause dislocation in the supply and distribution matrix and huge revenue losses to the country.
In January 2021, the national oil company said a total of 96 companies from various jurisdictions had indicated interest in undertaking the rehabilitation of its downstream facilities, ranging from critical pipelines to depots and terminals, through the Build, Operate and Transfer financing model.
Also, between January and June 2022, the NNPCL said that it spent N12.42bn on pipeline maintenance and security.
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