Nigeria lost about N191 billion ($1.23 billion) in the first quarter of 2013, due to drop in crude oil production, arising from incessant crude oil theft and vandalism along the major pipelines within the Niger Delta, the Nigerian National Petroleum Corporation, said yesterday.
The country is also expected to lose N83 billion ($554.0 million) in April and May, as the NNPC and Shell Petroleum Development Company of Nigeria Limited, SPDC, yesterday, declared force majeure on its 150,000 barrels of oil per day Bonny Light export, with the shut down of its $1.1 billion (N174.9 billion) Nembe Creek Trunkline, NCTL due to oil theft.
Acting Group General Manager Public Affairs Division, NNPC, Tumini Green, in a statement said, daily crude oil production during the period fluctuated between 2.1 and 2.3 million barrels per day (mbpd) compared with the projected estimate of 2.48mbpd.
“Expectedly, this fall between actual production and forecast in first quarter 2013 have resulted in a drop in crude oil revenue of about $1.23 billion (N191 billion) that should have accrued to the Federation Account,” she said.
She explained that the force majeure Bonny Crude declared by SPDC in its Joint Venture with the NNPC is due to incessant crude oil theft.
The shut down, she said, is as a result of investigations which revealed 53 break points along the 97km Nembe Creek Trunkline.
She also disclosed that repair work on the trunkline is expected to last about six weeks, noting that this will further reduce the country’s April and May monthly average to about 2.2mbpd and further decrease crude oil revenue that should have accrued to the Federation Account.
Green, however, assured that the maintenance work will have minimal effect on gas supply to domestic market.
“We shall continue to work with relevant government agencies both at the Federal and State levels to end this incessant crude oil theft and pipeline vandalism. We have the potential to meet the national target of 2.48mbpd if this menace is eliminated.”
SPDC, in a statement signed by Tony Okonedo, Corporate Media Relations Manager, said the shut down is as a result of the incessant incidents of oil theft.
According to him, the company shut down the Nembe Creek Trunkline on Monday, April 15, 2013, to remove crude oil theft connections and investigate suspected oil theft leaks.
Meanwhile, the Coordinating Minister for Economy and Minister of Finance has lamented the spate of oil theft in Nigeria as she says it’s affecting the country a great deal.
Oil should be Nigeria’s saving grace, but oil leakage causes a significant drain on the economy.
Speaking to CNN host Christiane Amanpour on CNN International’s nightly interview program Amanpour, Okonjo-Iweala stressed the need for Nigeria to avoid any leakages or oil theft as the country is still poor.
“We are still a poor country,” she admitted. “We can’t afford any leakage.”
Nigeria’s Communications Minister, Isa Pantami, Loses 13-year-old Daughter
Minister of Communications and Digital Economy, Isa Ali Pantami, has announced the loss of his 13-year-old daughter, Aishah Isa Ali.
The Minister took to his Twitter account on Monday night to announce this sad news.
Pantami stated that the funeral prayer for the deceased will be conducted in Abuja on Tuesday at Annur Masjeed, Wuse 2.
The post by the minister announcing the incident reads; “Inna lil Laahi wa inna ilaiHi Rajiun! My 13-year old daughter, Aishah Isa Ali (Amal) passed away just a moment ago.
“Due to some necessities, funeral prayer tomorrow at Annur Masjeed, Wuse 2, immediately after Zuhr prayer In sha Allah. May Allah forgive and be merciful to her.”
Inna lil Laahi wa inna ilaiHi Rajiun!
My 13-year old daughter, Aishah Isa Ali (Amal) passed away just a moment ago.
Due to some necessities, funeral prayer tomorrow at Annur Masjeed, Wuse 2, immediately after Zuhr prayer in sha Allah. May Allah forgive & be Merciful to her.
— Isa Ali Pantami, PhD (@DrIsaPantami) November 23, 2020
Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu
Governor Nyesom Wike of Rivers State has imposed a 24-hour total curfew for two weeks on some parts of Port-Harcourt, the state capital.
The Governor made this known during a broadcast on Sunday where he noted that the curfew begins from Monday 23rd November 2020.
The statement noted that the upsurge noticed by the state government in cases of cult activities, other forms of violence, and killings is responsible for the curfew.
Wike in the statement declared that the entire area along and around the Okoro-nodu flyover up to a one-kilometre radius from Saint Emmanuel Anglican Church, Rumuokoro, extending to the Rumuodomaya Slaughter and Local Government daily market will be affected.
He added that no form of trading, human or vehicular movement is allowed in the affected areas until further notice.
Zamfara Governor Secures Release Of 11 Kidnapped Victims
Governor of Zamafara, Bello Matawalle has announced the release of 11 kidnapped victims.
According to reports, ten of the victims were male and a female from Bukkuyum Local Government Area.
Matawalle received the rescued kidnapped victims on Saturday night at the Government House in Gusau, the state capital.
The Commissioner of Security and Home Affairs, Abubakar Muhammed Dauran revealed that the victims were released without paying a ransom.
He stated they were released as a result of the peace initiative and stakeholders meeting summoned by Governor Matawalle with all critical stakeholders from Bukkuyum Local Government Area on Thursday.
Governor Matawalle assured that his administration will not rest on its oars until total peace is achieved in all parts of the state.
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