The Nigerian National Petroleum Corporation (NNPC) yesterday said losses from vandalism and oil theft has reduced from N800 billion in 2018 to less than N82billion, a feat attributable to clampdown on vandals by joint security efforts.
Its Group Managing Director (GMD), Mele Kyari who spoke at the official handover of four patrol vehicles and four quad bikes to the Taskforce against vandalism, Operation AWATSE at the headquarters, Western Naval Command (WNC) Apapa, Lagos, said the loss reduction was a feat management was very proud of. He said by early last year, the level of losses suffered from vandalism along the pipelines from Atlas Cove to Ilorin were impossible to manage.
“We sought support of the Chief of Defence Staff (CDS) who instructed the set up of the operation AWATSE that led to the arrest of this situation reducing our losses to less than 50 per cent of what we knew at that time.
“It enabled us also to increase flow into that line from less than 800,000 to 2.6 million tons by the end of 2019. Currently, we know that we will exceed this target. So, it is a huge success because without the intervention of Operation AWATSE and all the associated support from all the service- the Nigeria Police, Nigerian Security and Civil Defence Corps (NSCDC), we would not have achieved this. So, it is a very critical assignment for us and we are very happy that this has happened.”
Kyari said the NNPC under his watch promised accountability to Nigerians and have stayed committed to it, noting that the corporation was the only agency that publishes its operations account monthly.
He said: “We promised Nigerians that this company, our own company owned by all of us, the over 200 million Nigerians will be accountable to all.
“We are very accountable to all. Today, everybody knows what we are doing. We are the only company that publishes its operations account on monthly basis. We have never published the annual financial statement of this company but it was done for 2018 and 2019.
“Nigerians now know what we are doing on their behalf and that has caused us to improve in our performance.
“We have reduced our losses from what was N800 billion in 2018 to less than N82 billion and we are very proud of this. Therefore, in terms of accountability and transparency, we have achieved that and we also promise that we will perform excellently on behalf of the Nigeria people.
“That’s a reflection of the financial statement, that’s what the financial statement tells you that this company has come of age. We have automated almost over 80per cent of our processes, we have taken out discretion in over 80 per cent of our processes in that way we know this company by the close of this year, we would declare our dividend to Nigerians,” he said.
He described as false, allegations that it did not remit N21 billion revenue from Nigeria Liquefied Natural Gas (NLNG) to the Federation Account.
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) had in a report submitted to the House of Representatives Committee on Public Accounts, accused the NNPC of failing to remit dividends paid into the NLNG dividend account.
RMAFC alleged that the NNPC spent the money without remitting same to government coffers.
Reacting to the allegation during an interview with reporters, Kyari said it was practically impossible not to remit money into the federation account.