NEWS: Nigeria Loses N376 Billion In 5 Years To Pipeline Vandalism

Date: 13-07-2014 6:04 am (6 years ago) | Author: Victor A. Ofoma
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- at 13-07-2014 06:04 AM (6 years ago)
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The Managing Director of Pipeline and Product Marketing Company (PPMC), Prince Haruna Momoh, said Nigeria lost N376 billion between 2008 and 2013 to pipeline vandalism.

Momoh stated this on Saturday in Uyo at  a capacity building workshop for energy correspondents

Momoh was represented at the workshop by Executive Director Commercial, PPMC, Mr Francis Amego.

The MD said the activities of vandals had made it difficult for PPMC to meet up its obligation in delivering oil and gas products to their various destinations across the country.

“Pipeline vandalism has been a major challenge to downstream sector as it truncates effective product distribution within the network

“The vision that drives PPMC is to provide petroleum products to the domestic market at affordable prices.

“But the activities of these unscrupulous elements have been a hindrance to achieving these objectives”, he said.

According to him, the PPMC pipeline network’s current assets amount to 5,120 Kilometres.

He added that the company had 21 petroleum products depots, eight liquefied petroleum gas depots, two off-shore product terminals and four jetties across the country.

The PPMC boss called for the speedy passage of the Petroleum Industry Bill in the National Assembly.

Momoh expressed optimism that the Bill would go a long a way in accelerating the development of the downstream sector and also open ways for deregulated market to reduce cost. (NAN)

Posted: at 13-07-2014 06:04 AM (6 years ago) | Gistmaniac
- winace at 13-07-2014 07:38 AM (6 years ago)
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Vandalism is a criminal act but I want to ask how much are d politician vandalising from d national treasury? Pls provide jobs and there will be less crime.
Posted: at 13-07-2014 07:38 AM (6 years ago) | Addicted Hero
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- Freshlycrazy at 13-07-2014 07:40 AM (6 years ago)
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at least na citizens dey chop d money... Nigeria don lost higher figures to politicians dat hv illegally privatize d sector... & those politicians r still d cause of expensive oil not vandals...
Posted: at 13-07-2014 07:40 AM (6 years ago) | Gistmaniac
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- schmit at 13-07-2014 08:05 AM (6 years ago)
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If for say Una dey share d money, bcus naija dey rich, dem for no get mind vandalise am, do like Germany provide jobs, but if anyone looses his or her job, u keep paying d person some money, till he or she gets a job, pay d little children some money till they are 18 when dey can work, but NO na only Una waka come dis world, only Una pockect. Go look where dem dey drill d oil, those people are so poor
Posted: at 13-07-2014 08:05 AM (6 years ago) | Hero
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- seveneleven at 13-07-2014 08:34 AM (6 years ago)
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abeg where be the place make i go vandalize the ones wey remain... God punish devil
Posted: at 13-07-2014 08:34 AM (6 years ago) | Upcoming
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- angesco at 13-07-2014 09:10 AM (6 years ago)
Online (f)
A failed nation in the making - which is a pity considering we are BLESSED with all the natural resources to SUPPLY  the world's need for FUEL!
Posted: at 13-07-2014 09:10 AM (6 years ago) | Gistmaniac
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- Bankable at 13-07-2014 09:20 AM (6 years ago)
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That's for vandalism alone, how about the one that was legally mine, where did the money go? Excuse for a government.
Posted: at 13-07-2014 09:20 AM (6 years ago) | Upcoming
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- dickman2 at 13-07-2014 10:16 AM (6 years ago)
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na lie..
Posted: at 13-07-2014 10:16 AM (6 years ago) | Addicted Hero
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- dickman2 at 13-07-2014 10:19 AM (6 years ago)
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make them tell us ..how many trillon thief.....I dey vex oooh..
Posted: at 13-07-2014 10:19 AM (6 years ago) | Addicted Hero
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- Rhabboni at 13-07-2014 11:12 AM (6 years ago)
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POLICIANS HW MUCH HAS D NATION LOST IN UR BANKS AWAY FROM THE COUNTRY.WHEN D MAN WHOM U MINE CRUDE FROM D BACK OF HIS HOUSE COUGHS U SAY HE HAS VANDALIZED. SHAMELESS PPLE.
Posted: at 13-07-2014 11:12 AM (6 years ago) | Newbie
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- beneno at 13-07-2014 11:23 AM (6 years ago)
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the oil we have suceeded in selling,what did they do with the money ? Roll Eyes  Roll Eyes  Roll Eyes  Roll Eyes
Posted: at 13-07-2014 11:23 AM (6 years ago) | Addicted Hero
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- DMG17 at 13-07-2014 02:56 PM (6 years ago)
Online (m)
THAT'S WHAT YOU GET WHEN YOU HAVE AN IRRESPONSIBLE GOVERNMENT.
Posted: at 13-07-2014 02:56 PM (6 years ago) | Gistmaniac
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- Larry28 at 13-07-2014 03:47 PM (6 years ago)
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Hmmm
Posted: at 13-07-2014 03:47 PM (6 years ago) | Hero
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- toibeli at 13-07-2014 04:08 PM (6 years ago)
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This is nothing compared to what the legislooters steal from Naija every year.
Posted: at 13-07-2014 04:08 PM (6 years ago) | Gistmaniac
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- cocoeni at 13-07-2014 04:59 PM (6 years ago)
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 13-07-2014 04:59 PM (6 years ago) | Hero
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- osamabinladin at 13-07-2014 05:33 PM (6 years ago)
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 Roll Eyes
Posted: at 13-07-2014 05:33 PM (6 years ago) | Hero
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- eteakumagba at 13-07-2014 05:36 PM (6 years ago)
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http://monthlyyouth.com/?ref=94820
Posted: at 13-07-2014 05:36 PM (6 years ago) | Newbie
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- chicco77 at 13-07-2014 06:24 PM (6 years ago)
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 Huh? Huh? Huh?
Posted: at 13-07-2014 06:24 PM (6 years ago) | Addicted Hero
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- Dbanjay at 14-07-2014 01:03 AM (6 years ago)
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Thieve
Posted: at 14-07-2014 01:03 AM (6 years ago) | Upcoming
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- Y-ON at 14-07-2014 02:58 AM (6 years ago)
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N376 Billion is equivalent to {75.2 Billion} of a Country in Asia and despite they have developed more than Nigeria, If they handle such huge amount in 5 years, their Country will look better than Paris or London but in Nigeria, we know how to Steal, Embezzle, Vandalize and Waste. God have mercy for us in Jesus name I pray Amen.
Posted: at 14-07-2014 02:58 AM (6 years ago) | Upcoming
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