By Michael Eboh

The crisis in the Niger Delta region has taken a significant toll on the Nigerian economy since the beginning of the year as Nigerian Petroleum Development Company, NPDC, the exploration and production subsidiary of the Nigerian National Petroleum Corporation, NNPC, yesterday, stated that it lost N1.5 trillion to attacks on its facilities from January till date.

The amount is 24.8 per cent of Nigeria’s budget estimates of N6.06 trillion for the 2016 fiscal year.

Speaking at the 2016 NNPC Security Awareness Week in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, explained that the NPDC alone recorded 59 security incidents resulting in crude production shut down/deferment and revenue loss of over N1.5 trillion.

He said: “At industry level, we are all conversant with the seriousness and frequency with which national assets, in form of pipelines, flow stations, among others are vandalized and crude oil and white products stolen with impunity.”

He urged all Nigerians to do everything possible to help protect the national assets, adding that governments at various levels were doing much to fight criminality and that success can only be achieved when all stakeholders imbibe the consciousness that security was a task for everyone.