The pipelines operated by a subsidiary of the Nigerian National Petroleum Corporation (NNPC), the Nigerian Pipelines and Storage Company (NPSC) Limited, experienced a total of 451 breaks and 11 fire incidents last year, data from the national oil company has revealed. Contained in its just-released 2020 Annual Statistical Bulletin, a breakdown of the incidences indicated that while 349 cases were due to vandalism of the facilities, 102 were as a result of system deterioration. Last month THISDAY reported that the NNPC lost 6.035 million barrels of crude oil to emergency shutdowns in June, as presented during its August presentation to the Federation Account Allocation Committee (FAAC). At an average of $73 which the product sold in June, that would be a whopping $438 million shortage posted for the month and roughly N219 billion at N500 exchange rate to the dollar. Put side by side the NNPC’s contribution […]