N230B Lost To Oil Theft In 2019 - NNPC

N230B Lost To Oil Theft In 2019 - NNPC

Eludoyin Oluwanisola

The Nigerian National Petroleum Corporation (NNPC) has disclosed that about N230 billion was lost to oil theft and vandalism in 2019.

Mallam Mele Kyari, managing director of the corporation, lamented over the alarming rise in the number of vandals, thieves, and pirates.

Kyari said this while speaking to members of the Executive Intelligence Management Course 13 of the National Institute for Security Studies (NISS) who visited the NNPC Towers in Abuja.

Kyari spoke on the topic “Piracy in the Gulf of Guinea; Issues, Challenges for International Trade, National Security and Sustainable Development of Member States.”

He stated that oil vandalism is a big challenge, adding that it posed a threat to Nigeria as a nation.

He, however, mentioned, “Even by 2050, fossil fuel would account for 80 per cent of the energy mix, and there would still be consumption of at least, 100 million barrels of oil per day. We are determined to remain relevant in the long term”

NNPC Chief Operating Officer, Downstream, Engr Yemi Adetunji, allayed fears, saying that an “Operation Kumbe” was being created to tackle insecurities which included kidnapping that occurred a lot in 2016.

He added that the operation was being worked upon with security agencies and that Nigerian Navy was also working on it at the atlas cove.

Happenings Media