By Michael Eboh
Nigeria is to lose $12.6 million, about N2.52 billion, following the vandalisation of the Escravos-Lagos pipeline and its subsequent closure by the Nigerian National Petroleum Corporation, NNPC and the Nigerian Gas Company, NGC.
Specifically, the 200 million Standard Cubic Feet per day (SCFD) pipeline, according to Mr. Dafe Sejebor, Managing Director, NGC, was vandalised, Monday, March 2, 2015, at Inikorogha community at the creeks in Delta state, leading to its closure.
Sejebor, who was represented at a press briefing, yesterday, in Warri, Delta state, by Mr. Joseph Olisa, Executive Director, Services, NGC, added that the country will be deprived of about 1,500 mega watts of electricity during the period which the pipeline will be shut.
He, however, stated that work has commenced on the repairs of the pipelines , Thursday, adding that the work will be concluded in about two weeks.
This brings the period the pipeline will be shut and gas supplied deferred to about three weeks.
The NGC put the cost of gas at an average of $3 per 1,000 SCF, this translates to a loss to the country of about $12.6 million or N2.52 billion for the minimum of 21 days that the 200 million SCF per day pipeline will be shut.
Sejebor said the recent increase in the spate of vandalism is negatively affecting the economy of the country and the operations of the company.
He said, “The spate of vandalism of our pipelines have been on the increase and this is alarming. We are hurting, especially as it has affected us negatively. It is a wilful damage and not as a result of our inability to maintain our pipelines.”