Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria loses $10.9bn to pipeline vandalism – PPMC

    Nigeria loses $10.9bn to pipeline vandalism – PPMC

    August 2, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    PPMC commended for pumping diesel to Aba depot02 Aug 2013, Abuja – The Area Manager of the Pipeline and Products Marketing Company, PPMC, in Gombe State, Alhaji Abdullahi Gunda, has said Nigeria’s economy has been negatively affected as it lost $10.9 billion due to the activities of vandals in the petroleum sector between 2008 and 2011.

    Speaking as a guest speaker during the maiden stakeholders’ meeting on anti-vandalism and protection of government critical infrastructure and national assets organised by the Nigeria Security and Civil Defence Corps, NSCDC, Thursday, Abdullahi quoted the Extractive Industries Transparency Initiative, NEITI, estimation and said collectively, colossal amount of money is being lost on daily basis thus putting pressure on the national treasury.

    According to him, in the process of vandalising the pipelines, petroleum products are stolen, wasted and spilled which results in heavy economic lose to the country.

    In his words, “Currently, it is estimated that about 150,000 barrels per day of crude oil are stolen from pipeline system.”

    He, therefore, called on stakeholders especially the security agents, community and traditional leaders to put hands on deck to stop the menace, saying even though the effect in the North-east is not as much as in the Niger Delta.

    He commended the stakeholders on efforts to reclaim the Jos-Gombe-Maiduguri pipeline, assuring that the recovery of the pipeline will revive the economy of the North-east region.

    Earlier, Gombe State Commandant of the NSCDC, Mr. Joel Khestossen said vandalisation for the purpose of stealing of crude oil, petroleum products, PHCN cables, NITEL installations, water works installations and communication service providers’ installations were the noted heinous crimes that has threaten the survival of the nation’s economy in the last decade.

    According to him, apart from being a serous economic sabotage, it is an issue in national security, a total break down in the value system of a people, a breach of the rule of law and a manifestation of the inherent greed in our larger society.

    – This Day

    Related News

    ExxonMobil Nigeria appoints new Chairman & Managing Director

    Energy sector drives CCUS growth, accounting for over 70% of projects by end-2024

    Africa’s crude export landscape is shifting

    E-book
    Resilience Exhibition

    Latest News

    ExxonMobil Nigeria appoints new Chairman & Managing Director

    July 17, 2025

    NIMASA shut down product facility over non-compliance

    July 17, 2025

    AfDB & Partners launch a $263.8m infrastructure project

    July 17, 2025

    Energy sector drives CCUS growth, accounting for over 70% of projects by end-2024

    July 17, 2025

    Africa’s crude export landscape is shifting

    July 17, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.