Nigeria loses N1.5trn to attacks by militants, oil vandals in 2016

Nigerian Petroleum Development Company (NPDC), the exploration and production subsidiary of the Nigerian National petroleum Corporation (NNPC) lost N1.5 trillion in 2016 due to attacks on its facilities.

The Group Managing Director of the NNPC, Maikanti Baru disclosed this while declaring open the 2016 NNPC Security Awareness week with the theme: ‘NNPC Security: A task for All Stakeholders’ on Wednesday.

He ‎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. ““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.‎

Many of the attacks were carried out by the Niger Delta Avengers, an armed group in the oil producing region. The attacks reduced Nigeria’s oil production and export by about 50 per cent and also affect power generation as gas supply to power plants for cut.

Baru 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.

“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.

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.