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

Published On: July 13, 2014, 6:04 am (6 years ago)
Author: Victor A. Ofoma
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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: (6 years ago) on 13-07-2014 06:04 AM | Gistmaniac
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: (6 years ago) on 13-07-2014 07:38 AM | Addicted Hero
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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: (6 years ago) on 13-07-2014 07:40 AM | Gistmaniac
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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: (6 years ago) on 13-07-2014 08:05 AM | Hero
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abeg where be the place make i go vandalize the ones wey remain... God punish devil
Posted: (6 years ago) on 13-07-2014 08:34 AM | Upcoming
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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: (6 years ago) on 13-07-2014 09:10 AM | Gistmaniac
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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: (6 years ago) on 13-07-2014 09:20 AM | Upcoming
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na lie..
Posted: (6 years ago) on 13-07-2014 10:16 AM | Addicted Hero
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make them tell us ..how many trillon thief.....I dey vex oooh..
Posted: (6 years ago) on 13-07-2014 10:19 AM | Addicted Hero
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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: (6 years ago) on 13-07-2014 11:12 AM | Newbie
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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: (6 years ago) on 13-07-2014 11:23 AM | Addicted Hero
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DMG17 DMG17 (m)
THAT'S WHAT YOU GET WHEN YOU HAVE AN IRRESPONSIBLE GOVERNMENT.
Posted: (6 years ago) on 13-07-2014 02:56 PM | Gistmaniac
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Hmmm
Posted: (6 years ago) on 13-07-2014 03:47 PM | Hero
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This is nothing compared to what the legislooters steal from Naija every year.
Posted: (6 years ago) on 13-07-2014 04:08 PM | Gistmaniac
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: (6 years ago) on 13-07-2014 04:59 PM | Hero
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 Roll Eyes
Posted: (6 years ago) on 13-07-2014 05:33 PM | Hero
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http://monthlyyouth.com/?ref=94820
Posted: (6 years ago) on 13-07-2014 05:36 PM | Newbie
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 Huh? Huh? Huh?
Posted: (6 years ago) on 13-07-2014 06:24 PM | Addicted Hero
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Thieve
Posted: (6 years ago) on 14-07-2014 01:03 AM | Upcoming
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Y-ON Y-ON (m)
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: (6 years ago) on 14-07-2014 02:58 AM | Upcoming
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