Nigeria was among countries with highest gas flare rates, but a number of Clean Development Mechanism (CDM) projects aimed at appropriate gas utilization have improved the country’s standing in this the regard.
Browsing: NNPC’s Monthly Financial and Operations Report
He said the Corporation had earlier taken steps to inform the Presidency, Office of the Accountant General of the Federation and the Central Bank of Nigeria on the existence of the said accounts prior to the creation of the Federal Government Asset Recovery Account.
An analysis of the corporation’s Monthly Financial and Operations report showed that the consolidated capacity utilisation of the three refineries dropped from 24.59 per cent in April 2017, to 23.09 per cent in the month under review.
The Federation Accounts Allocation Committee (FAAC) had in September 2011, resolved that the NNPC should refund over N450 billion in 32 installments after the NNPC said it withheld the money that should have been paid into the Federation Account as stipulated by law.
However, pipeline sabotage in the country increased from 49 downstream pipelines vandalized points in February 2017 to 94 in March 2017. This represents over 91 per cent increase relative to the previous months despite Federal Government’s and the NNPC’s continuous engagement with the stakeholders. Nevertheless, there is a noticeable improvement compared to corresponding period of March 2016 which posted 259 cases.
The downward trend in the cases of pipeline sabotage, according to the report, was due to sustained engagements with stakeholders by the Federal Government and Corporation.
