Nigeria loses Petroleum products worth N15 71bn to vandalism in 2020 naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.
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’Femi Asu
With the challenge of pipeline vandalism lingering in the country, the Nigerian National Petroleum Corporation spent almost N50bn to repair and manage pipelines in 10 months.
The NNPC’s latest monthly report showed that a total of 363 vandalised points were recorded from January to October 2020.
The corporation spent N5.48bn on pipeline repairs and management cost in January; N6.74bn in February; N7.69bn in March; N7.84bn in April; N7.99bn in May and N6.24bn in June.
It spent N1.80bn in July; N1.49bn in August; and N4.41bn in October. No repairs and management cost was incurred in September, the report showed.
Oil Pipelines Photo: Getty Images
At least, 96 companies are currently lobbying for contracts to rehabilitate Nigeria’s critical downstream infrastructure, especially pipelines, depots and terminals, the Nigerian National Petroleum Corporation’s (NNPC) said yesterday.
The national oil company said the infrastructure would be contracted on a build, operate and transfer (BOT) financing model. With the model, the assets would be operated by the private firms after they are rehabilitated before they are transferred to the government depending on the number of years contained in the contract.
According to the Corporation, the public opening of the bids for the contract was in line with the NNPC’s commitment to transparency and accountability.
Emmanuel Addeh in Abuja
Ninety-six companies from various jurisdictions have indicated interest in rehabilitating the Nigerian National Petroleum Corporation (NNPC) downstream infrastructure, including critical pipelines, depots and terminals.
A statement yesterday in Abuja by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, said the 96 companies emerged during a virtual public bid opening for the pre-qualification of bidders for the contract.
It stated that the public opening of the bids for the contract was in keeping with the NNPC management’s commitment to transparency and accountability in all its processes and transactions.
The NNPC noted that the public’s response to its Build, Operate and Transfer (BOT) financing model, was buoyed by the prevailing culture of Transparency, Accountability and Performance Excellence (TAPE) of the current management of the corporation.