By Bisola Adeyemo
The Nigerian National Petroleum Corporation (NNPC) says it will continue to work in collaboration with the local communities and other stakeholders to eliminate the menace of pipeline vandalism.
Recall that in a report, about 54 petroleum pipeline points were vandalised in February 2021.
The Corporation disclosed this on its Monthly Financial and Operations Report (MFOR) for February released in Abuja, on Thursday.
“During the period under review, 54 pipeline points were vandalised representing 50 per cent increase from the 27 points recorded in January 2021.
“The Warri Area accounted for 50 per cent and Mosimi Area accounted for 39 per cent of the vandalized points while Kaduna and Port Harcourt Areas accounted for seven per cent and four per cent, respectively,’’ it said .
Also, in the period under review, the report revealed that the corporation made ₦39.85 billion trading surplus, representing a massive 314.24 per cent leap from the ₦9.62 billion surplus it recorded in January.
“NNPC Group operating revenue as compared to January 2021, increased by 35.64 per cent or N152.07 billion to stand at N578.79 billion.
“Similarly, expenditure for the month increased by 29.21 per cent or N121.83billion to stand at N538.94billion.The expenditure for the month as a proportion of revenue was 0.93 per cent as against 0.98 per cent the previous month,’’ the report said.
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