The Nigerian National Petroleum Corporation has said it spent a total of N41 . 98 bn on pipeline repairs and management cost in the first half of this year.
The NNPC disclosed this in its latest monthly oil report , saying , “ Products theft and vandalism have continued to destroy value and put NNPC at disadvantaged competitive position. ”
A total of 1 , 067 vandalised points were recorded between June 2019 and June 2020 , according to the corporation .
It said a total of 33 pipeline points were vandalised in June 2020 , representing about 11 per cent decrease from the 37 points recorded in May .
The NNPC said , “ Mosimi – Ibadan accounted for 33 per cent while ATC – Mosimi and Warri – River Niger recorded 27 per cent of the breaks each ; other locations make up for the remaining 13 per cent .
“ NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace . ”