Vice President Yemi Osinbajo said at the weekend that pipeline vandalism in the Niger Delta was causing Nigeria huge revenue losses and preventing the country from meeting its daily crude oil production plan. Osinbajo made the assertion on Friday in Warri after an assessment of the damage to pipelines at the Forcados Terminal in Delta State. He said the federal government was weighing several options in an attempt to tackle the menace, including dedication of a special anti-vandalism security force to the oil producing areas.


Nigeria recently lost its Africa’s top oil producer status to Angola following vast drops in crude oil production. According to the latest data from the Organisation of Petroleum Exporting Countries, Nigeria’s daily crude oil production fell by 67,000 barrels per day last month. In its Monthly Oil Market Report for April, which was released on Wednesday, OPEC said Nigeria produced 1.677 million barrels per day in March, down from 1.744 million bpd in February, whilethe Angolan oil output rose from 1.767 million bpd to 1.782 million. It was the second time in four months that Nigeria would be pushed to the second position by Angola in the continental crude oil production profile.Lamenting the damage to Nigeria’s production capacity due to the destruction of oil and gas facilities in the Niger Delta by pipeline vandals, Osinbajo said the federal government was considering deploying more sophisticated military machinery in the region to protect the oil infrastructure.Fielding questions from newsmen, he said the country was “losing thousands of barrels of production. We are not able to produce as much as we ought to. About 250,000 barrels are lost per day. We are losing large sums of money daily. We look for alternatives while we look forward to repairing the pipelines.”Osinbajo said vandalism was also affecting gas supply to the country’s power stations.“The damage done has led to low supply of gas and most of the power plants are not functioning to maximum capacity. We went to Forcados to see for ourselves the sabotage done to our pipelines. We have seen the alternative steps that the NNPC is taking in order to ameliorate the damage that has been done and the problem associated with getting gas from that terminal to all of our plants.”The vice president, who was accompanied on the visit by the Delta State governor, Dr Ifeanyi Okowa, and some senior federal and state government officials, added, “There is a lot of effort being made by the federal government and (Delta) state government as well as communal help. We must meet current vandalism challenges but also look into what we can do in the future.“We would have to deploy even sophisticated weapons to ensure we contain the vandalism, overhaul security, and a permanent pipeline security force might also be an option to look at.”He likened pipeline vandals to “any type of terrorists or saboteurs,” saying President Muhammadu Buhari’s position on confronting vandals with the severest measures possible should be supported by all and sundry. “I agree entirely that pipelines vandals should not be tolerated under any circumstances,” he said.

http://www.thisdaylive.com/index.php/2016/04/17/osinbajo-250000-barrels-of-oil-per-day-being-lost-in-niger-delta/

thanks to d ipods

Sai buhari

At least Ghana has not overtaken Nigeria in population due to boko/Fulani attack.

All we hear in this country is bad new hia-hia!

ok

Next headline with Bubu in power "Zimbabwe Overtakes Nigeria As Africa Biggest Economy"

The truth remains that buhari is bad luck personified. as far buhari is there no news.

It is time for Nigeria to wake up.
Are we no longer the giant of Africa?

bubu think that he can win this war with gra gra, by the time those boys finish with him, common chad will be ahead of nigeria in oil producing state

Hw that one take concern me? hw that one take bring done d price of fuel? Nonsense!!!

.

austinsmat:
bubu think that he can win this war with gra gra, by the time those boys finish with him, common chad will be ahead of nigeria in oil producing state

CHAD too big sef, na uganda go overtake us very soon

you see as we dey do ourselves so?

small time now the juvenile delinquents of Nairaland will come to this trend to start playing with mud.

oops, some are already here.

Evestar200:
CHAD too big sef, na uganda go overtake us very soon

read your signature again and tell me if this your comment is at par with it.

Ioannes:


read your signature again and tell me if this your comment is at par with it.

forget the signature jor

great news

Wetin concern me with that one, as if I care...............

Evestar200:
forget the signature jor

so sad. you wrote it there yourself, not me.

Nigeria will survive this period and I hope you can look back at your post and realise how wrong you were.

Ioannes:


so sad. you wrote it there yourself, not me.

Nigeria will survive this period and I hope you can look back at your post and realise how wrong you were.

i knw i was d one dat wrote that, bt that was then when nigeria is still a nigeria nt now.

Evestar200:
i knw i was d one dat wrote that, bt that was then when nigeria is still a nigeria nt now.

if you are married to a man who provides well for your material needs and then suddenly he has some financial problems, what will you do as a good wife?

support him as much as you can and pray for him right?

do the same for Nigeria, because Nigeria can only succeed when her wonderful people like you are fully in support of her.

I hope you get my point.

Angola may be the top oil producer in Africa at the moment but their inflation rate is currently above 20%.

So do the math....

Cc lalasticlala

Congratulations to Angola, wise and reasonable citizens she got.

Since PMB became president everything is just going from bad to worse

At times economic power is greater than Political power!
If only PMB could be wise!!!

really

watch us, we will soon overtake them back!

good news for the wailers

f oil. govt should diversify the economy.

adenine02:
thanks to d ipods

Y not iPad

"He who is down fears no fall." But I know that Nigeria shall rise again!