Lai Mohammed, Minister of Information and Culture Monday said the federal government loses N60 billion yearly on repair and maintenance 0f vandalized oil pipelines.
Mohammed who said this at a town hall meeting on “protecting oil and gas infrastructure”, in Abuja, also disclosed that an average of 200,000 barrels of crude oil are lost every day to the wanton damage to pipelines
The minister further informed that, between January 2019 and September 2020, 1,161 pipeline points across the country were vandalized.
While explaining that oil provides 80 per cent of Nigeria’s budgetary revenues and 95 per cent of foreign exchange earnings, Mohammed decried the impact of the incessant destruction of oil pipelines on the economy.
Read also: With many rail projects, Africa is charting the path for future prosperity
“Apart from the impact on the nation’s earnings, consider also the environmental problems caused by the incessant vandalism, in terms of freshwater pollution, air pollution, soil pollution, etc., and you will appreciate the enormity of the problem”, he said.
He explained that the essence of the town hall meeting is to, expose, arrest and prosecute all those who engage in buying pilfered infrastructure items along with those who bring such to them
to sell;
Sensitize communities, especially those where infrastructure is located, to be conscious of the import of such and protect them; and sensitize the larger citizenry to support the widespread campaign on the protection and ownership of public infrastructure/assets, especially in the Railways, Roads and Aviation sectors.
“Public infrastructure is at the very core of economic growth and national development. Therefore, the destruction of public infrastructure by some unpatriotic Nigerians calls for great concern and immediate action, hence our decision to organize this town hall meeting series”, the minister said.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
