Following
sustained attacks and vandalism of national oil assets, the Nigerian National
Petroleum Corporation (NNPC) said it is planning to set up a security advisory
council
to tackle the perennial challenge threatening the economy of the
country. The Nigerian Petroleum Development Company (NPDC), a subsidiary of the
NNPC, said it lost N1.5 trillion due to attacks on its facilities in 2016.
Speaking
during a visit to NNPC by the management of Media Trust Limited, the Group
Managing Director of NNPC, Dr. Maikanti Baru, said there was need to evolve new
measures to bring an end to pipeline vandalism, which deeply hurts the nation
in no small measure.
Baru said the
security advisory council would involve critical stakeholders, including
security agencies, Niger Delta leaders, International Oil Companies (IOCs),
which would address all security and host community agitations.
“We want to
passionately appeal to those behind indiscriminate acts of infrastructure
vandalism to put an end forthwith to these despicable acts, which are a great
threat to the economy, the eco-system and energy security of the country,” Baru
stated.
He explained
that since coming on board, he has ensured that the NNPC was run as a
FACTI-based corporation (Focused, Accountable, Competitive and a Transparent
organisation conducting its business with Integrity.)
He noted that
the corporation’s monthly operational and financial reports were always in the
public sphere for all to see, adding that it was this new wave of openness and
transparency that has earned the NNPC rave reviews and accolades among
Nigerians.
“With the
consistent release of our monthly financial and operational reports, the
Nigerian Extractive Industries and Transparency Initiative (NEITI) recently
commended us for embracing openness, subjecting our activities to greater
public scrutiny and providing real-time information about the state of the
nation’s oil and gas sector,” Baru said.
He explained
that through his 12 Business Focus Areas (BUFA), the corporation has kick-started
the implementation of policies to place the organisation on the path of growth
and profitability.
The GMD
explained that aside increasing the nation’s oil and gas reserves to 37 billion
barrels of oil and 192 trillion cubic feet of gas respectively, the corporation
has also commenced exploratory activities in the Gongola Basin with the aim of
further growing oil and gas reserves and taking advantage of low oil prices,
which make inland exploration cost-effective.
Baru also
lauded the management of Media Trust Limited for its factual reportage of the
corporation’s activities and operations.
“You have remained
a leading voice in the fight against unwholesome activities of crude oil theft,
pipeline vandalism and sabotage of the nation’s oil and gas installations. We
will like to see this gesture continue,” he stated.
Speaking
earlier, the Chairman of the Board of Directors, Media Trust Limited, Malam
Kabir Yusuf, stated that the visit was to strengthen the existing cordial
relationship between the two organisations and to also thank the NNPC
management for the good works it was doing for the country.
“We are here
as stakeholders in the media and the economy to say that we appreciate the work
you are doing and to also have the opportunity to have more insight into these
works and to communicate it to the public,” Yusuf said.
SUNNEWS
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