N50bn [531mn Litres of Petrol] Milked By Pipeline Vandals In 9 Months — NNPC

ABUJA, Federal Republic of Nigeria. (Unic Press UK) – The Nigerian National Petroleum Corporation (NNPC) lost 531 million litres of petrol, which is valued at N50 billion, to criminals sabotaging System 2B Pipeline Network that stretches from the Atlas Cove in Lagos to Ilorin, over a period of nine months. Specifically, from January 2015 until September 2015.

NNPC disclosure was made public by a press release that was inked by their Group General Manager in the Public Affairs Division, Ohi Alegbe.

NNPC lost N50bn [531mn litres of petrol] in 9 months

• The current “fuel situation was exacerbated by the inability of oil marketers to meet their import allocation quota due to outstanding subsidy payments thus creating a gap which the PPMC has been working round the clock to bridge…”
• There is a “need to build strategic reserve stock of petroleum products akin to the national grain reserves across the country”.
• The Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC) have been reached to assist the NNPC to tackle oil hoarding and the diversion of petroleum products for sale in the black market.
• The nefarious activities of pipeline vandals on the System 2B Pipeline Network is adversely impacting on the flow and availability of petrol.

Credit: Unic Press UK