₦airaland Forum

FG loses N470m daily in Escravos pipeline attack 0
BY OUR REPORTER ON JANUARY 22, 2016 BUSINESS
From Ikenna Emewu and Dennis Mernyi, Abuja

The attack last weekend on the Nigeria Gas Company’s (NGC) pipeline connected to Chevron Nigeria Limited’s facility at Escravos has been estimated to cost the nation about N470 million daily.

The attack which disrupted gas flow on the pipeline caused damage to the Olorunsogo NIPP plant with 600MW generating capacity, among other power plants.

The Federal Ministry of Power and the NGC disclosed this to the media in Abuja yesterday.

The destroyed gas pipeline supplies gas to the Escravos-Lagos Pipeline System (ELPS) and its vandalism led to a loss of 160mmsfcd of gas daily. At a cost of $2.50 per thousand scf, this loss amounts to $400,000 loss to the country everyday or N78.8 million daily in gas volume, the authorities lamented.

However, in order to arrest the situation and stop further losses, the NNPC is setting up a committee with the Police, JTF, that includes the Army, Air Force and Navy, as well as  community vigilante groups charged with the task of securing the pipelines.

The authorities indicated that this estimated loss is not inclusive of those incurred daily from affected power generation “in the sum of $1.9 million or N391.6 million daily. The total daily loss to the country is therefore estimated at N470.4 million. Repairs of the damaged pipelines would cost $609,137 or N120 million.”

The agencies also lamented that: “The real sector of the economy has also been counting its losses as some cement companies around Olorunsogo like Ewekoro and Ibese are also affected.

“The latest incident occurred as the Federal Government through the Ministry of Power, Works and Housing and the Ministry of Petroleum Resources along with other agencies were making concerted efforts to improve gas supplies to the power plants. Such efforts led to previously offline plants like Ihovbor and Sapele coming back online and the subsequent output making up for the loss in power. The pipelines are actively monitored for further attacks or other unforeseen impacts.

Between December 2014 to February 2015, six incidences of vandalism which affected the Trans Forcados Pipeline (at Oben, Sapele, Oredo) and Escravos Lagos Pipeline System (CNL) were recorded and they led to a loss of 1,100 mmscfd. According to industry experts, a loss of 200 mmscd is equivalent to power reduction of 700mw.

“While the industry is currently generating about 4120mwh/h on average as at last week data, it is without doubt that performance would have been better without the additional setback caused by the weekend’s Incident.

During the monthly meeting of the Minister of Power, Works and Housing, Mr. Babatunde Fashola with operators in the power sector last week, the NGC, NNPC and the GACN led by the Minister of State of Petroleum, Dr. Ibe Kachikwu shared information on significant gas projects that would improve gas supply scheduled for completion in the second quarter of 2016.

 
http://sunnewsonline.com/new/fg-loses-n470m-daily-in-escravos-pipeline-attack/

baba can deal with that. they should just CONTEANEW

mrphysics:
baba can deal with that. they should just CONTEANEW

Okayoo

Dear Lassa baby,First of all, ur fada!
Now, when Bird flu came, we were told to forsake
chicken,
we reluctantly obeyed.
When Sister Ebola came, we were told to forsake
bushmeat,
we obeyed. And now u, u jst came & without the
fear of God
in u, u said we shld forsake garri Garri ke?
Do u know how helpful Garri is to Nigerians
especially
Nigerian students? Honestly, if Nigerians
student swear for
u, ur tenure no go last reach anoda 1 week.
Nonsense!

How much is the Tompolo court case? 13 billion more or less, what this implies is that every other day we, as a nation sink 1 billion from the total sum, excluding the cost of the military operation and the attendant loss of revenue from power transmission which are discussions for another matter. People (govt) don't look at the cost-benefit analysis of their actions and decisions.

I understand BUHARI wants to fight corruption, but you can't just do everything at a time, after him, someone else might continue the fight, I suggest he forgo that Tompolo man and focus, his boys will be costing us a lot...

Hahah

mrphysics:
baba can deal with that. they should just CONTEANEW

Guy, haba na, that's indifference

otabuko:
I understand BUHARI wants to fight corruption, but you can't just do everything at a time, after him, someone else might continue the fight, I suggest he forgo that Tompolo man and focus, his boys will be costing us a lot...

Just listen to yourself for crying out loud....
Geez, how do you people reason for heavens sake

Nigeria as a country has laws and no man should be above the laws of the land

It's counterproductive to allow a proven criminal walk free just because we don't want to lose the ball. Buhari has delegated adequate responsibilities to our newly reinvigorated and refocused law enforcement officers so how then would he lose focus except you are worried about the financial resolution he might be using for crime fighting

These militant boys (and girls) sha. Your warlords received billions and prolly fed you crumbs, yet u still direct your unbridled hooliganism at a govt that seeks to alter that paradigm, and even to your own detriment?

This is what happens if you want to fight everybody and everything at a time. Diplomacy wud have sufficed here but Daura man wants to show the world he is a fighter.

See how Mayweather is enjoying his millions bcuz of tactics.
If he had gone blazing with Paccio maybe he still be in the hospital by now with stitches. Buhari our people say Ana agugodu ofu tupu aguo abuo( you count one b4 2)

A wise man picks his fight.This very fight with Tompolo is not one you should have taken up this time cuz the consequences far outweighs the benefit.

The enemies of this country and the government won't win; we shall hunt them down.

We warn them but they said their god Buhari will deal with the Militants

We told them that the militants are like the proverbial mosquitoes on the scrotum of a man and should be ignored

Now they are complaining of losing money

jaybee3:
Just listen to yourself for crying out loud....
Geez, how do you people reason for heavens sake

Nigeria as a country has laws and no man should be above the laws of the land

It's counterproductive to allow a proven criminal walk free just because we don't want to lose the ball. Buhari has delegated adequate responsibilities to our newly reinvigorated and refocused law enforcement officers so how then would he lose focus except you are worried about the financial resolution he might be using for crime fighting

we're not economically balanced, I know my base of argument, it's just one step at a time, if you know the facilities Nigeria has in creeks sort of, you'd understand where I am going to.... Take soku oil well for example, should those boys destroy there, our problems heightens... Thanks

I tot some set of people said Nigeria doesn't need d ND again??....

hooooooooooooo haaaaaaaaaaaaaaa calamity has befall the zoo

Legitbaba:
I tot some set of people said Nigeria doesn't need d ND again??....

my brother that my thoughts too, just a bomb 470 million, so we get all this in a day from just one pipeline. Hmmmmmmmm nawaooooooo

jaybee3:
Just listen to yourself for crying out loud....
Geez, how do you people reason for heavens sake

Nigeria as a country has laws and no man should be above the laws of the land

It's counterproductive to allow a proven criminal walk free just because we don't want to lose the ball. Buhari has delegated adequate responsibilities to our newly reinvigorated and refocused law enforcement officers so how then would he lose focus except you are worried about the financial resolution he might be using for crime fighting

So how come Buhari is not prosecuting IBB and OBJ already indicted for $12.5billion and $16billion scam respectively

Lalasticlala come and do the needful!!

Legitbaba:
I tot some set of people said Nigeria doesn't need d ND again??....

Yeah Groundnut and cocoa is taking care of 87% of our budget!!

Penny wise pound foolish! Where is Tompolo after months of hunt?