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 (9 years ago) | 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: at 13-07-2014 07:38 AM (9 years ago) | Addicted Hero
Freshlycrazy at 13-07-2014 07:40 AM (9 years ago) (m)
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 (9 years ago) | Gistmaniac
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 (9 years ago) | Hero
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 (9 years ago) | Newbie
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 (9 years ago) | Upcoming
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