Maikanti Baru NPDC loses N1.5trn to attacks on assets - NNPC boss says

Baru said the exploration and production subsidiary of the corporation lost the amount due to attacks on its facilities.

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Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru

(Financial Watch)
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Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), on Wednesday said the Nigerian Petroleum Development Company (NPDC) lost N1.5 trillion due to attacks on its facilities.‎

In a statement ‎signed by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs Division, Baru said that the exploration and production subsidiary of the corporation lost the amount due to attacks on its facilities from January till date.

Baru disclosed this when he declared open the 2016 NNPC Security Awareness week with the theme:‎ “NNPC Security: A Task for All Stakeholders”.

Baru ‎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 are vandalised 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 national assets, adding that governments at various levels were working to fight criminality.

He assured staff that security was a focal point off his administration and that success could only be achieved when all stakeholders imbibed 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 said.

Baru also launched 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 had become rampant.

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He charged all staff to participate actively in the activities of the Security Awareness Week to imbibe ideas that could help them not only on personal security but also on the protection of national assets.

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