The Area Manager of the Pipeline Products and Marketing Company Petroleum (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) yesterday, 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.