A
total of 531 million litres of petrol valued at over N50 billion was lost to
pipeline vandals between January and September 2015, at the problematic System
2B Pipeline network which stretches from the Atlas Cove in Lagos to Ilorin, the
Nigerian National Petroleum Corporation (NNPC) said yesterday.
Managing
Director of the Pipelines and Product Marketing Company (PPMC) a subsidiary of
the NNPC, Mrs. Esther Nnamdi-Ogbue, said this in a presentation to the Senate
Committee on Petroleum Downstream.
Mrs.
Nnamdi-Ogbue said that the losses which chiefly accrued from the incessant
hacking of the pipeline at the notorious Arepo to Mosimi axis of the pipeline
artery has made the task of providing seamless flow of petroleum products to
retail outlets more burdensome.
According
to a statement by NNPC spokesman, Mr. Ohi Alegbe, the PPMC boss told senators
that despite the challenge posed by the unavailability of the vital System 2B
Pipeline network, the PPMC has continued to ensure that the country remains wet
with petrol through massive truck-out from depots in Lagos, Oghara and recently
Calabar.
Earlier
in his presentation, the Group Executive Director, Commercial and Investment,
Dr. Babatunde Adeniran, told the Senate Committee that the fuel situation was
exacerbated by the inability of oil marketers to meet their import allocation
quota due to outstanding subsidy payments.
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