FEATURED
Senate Throws Weight Behind Tompolo, Endorses NNPC’s N48b Pipeline Contract
The Senate Committee on Petroleum (Upstream) on Tuesday endorsed the N48 billion oil pipeline surveillance contract awarded to a former Niger Delta militant leader, Government Ekpemupolo, also known as Tompolo, by the Federal Government through the Nigerian National Petroleum Corporation Limited.
The NNPCL had in September awarded the contract to Tantita Security Services Nigeria Limited owned by Tompolo.
The contract, totaling about N4 billion per month, covers Delta, Ondo, Imo and Rivers States and some parts of Bayelsa State.
Senator Albert Bassey Akpan, who chairs the Senate Committee, while addressing newsmen on Tuesday, stated that there was nothing wrong engaging non-state actors to secure oil pipelines inasmuch as the contract was yielding desired results.
Akpan lamented that oil theft wrecked the country’s oil production capacity and had resulted in the loss of about $2 billion this year alone.
He said major export facilities: Bonny and Forcados Terminals, were shut down for over seven months due to pipeline vandalism and oil theft.
The Senator, however, submitted that the recent pipeline surveillance contract to address oil theft was yielding positive results as the country’s oil production capacity has increased.
He said: “There are both formal and informal approaches to solving the issue.
“If that contract was contracted duly and processed, we don’t have any issue with it and if it yields desired outcomes, I don’t think there is anything wrong in it.
“We commend the NNPCL for the action.
“As we speak, the Forcados terminals have restored 500,000 barrels a day to our national production.
“Just about five days ago, the first 87,000 barrels a day was received at the Bonny terminals.
“So, things are getting better.
“This means that the abridged intervention done recently by government have yielded positive results because the production would have been shortened and you could imagine the effect on investment because investors will hold back if they cannot derive maximum profits from their investments.
“The government has not attracted desired investment in the oil and gas industry despite the PIA because what is being produced is being stolen.”
The panel, in its recommendations, said: “Curtailing crude oil theft should be a collective responsibility thereby well-meaning members of the public must be encouraged to report illegal activities and transactions in stolen crude oil that may come to their knowledge from any part of the world.
“Nigeria should seek international financial collaboration to check illegal Letters of Credit used to fund the sale and purchase of Nigeria stolen crude, as such illegal crude sales can only be transacted through the world financial system.”
(TheEagle Online, excluding headline)
2027: Okowa Appoints Ifeajika, Chiazor To Lead Media Team For Delta North Senate Race
Troops Arrest Notorious Terrorism Suspect in Kaduna, Target Dogo Gide’s Hideout
Two IDPs Hospitalised as Snakebites Surge Across Benue as SEMA Raises Alarm
NDLEA Raises Alarm Over Foreign Drug Cartels, Arrests 3 South Africans
No Ceasefire With Boko Haram, DHQ Declares, Says 435 Terrorists Killed
Africa Made It Launches ‘Power, Protect And Purchase’ To Unlock $34bn From Cotton Industry
Court Rejects Torture Claims, Admits Statements of Alleged Coup Plotters
Tinubu Storms Akwa Ibom Friday For Project Commissioning, Heads To Rivers Saturday For APC Rally
Reps Dismiss Petition Seeking Review of NIPCO Gas Distribution Licences
2027: Okowa Says Delta Targets Over 2 Million Votes For Tinubu, APC
Oborevwori, Okowa, Onowakpo Canvass Support for Tinubu as Delta APC Flags Off 2027 Campaign in Oleh
Keyamo Hails Court Ruling Sacking Mark-Led ADC Leadership, Invalidating Atiku’s Candidacy
BREAKING: Court Sacks Mark-Led ADC Leadership, Nullifies Atiku’s 2027 Presidential Ticket
BREAKING: NJC Suspends 3 Judges For One Year Without Pay Over Misconduct
Senate Begins Scrutiny Of Tinubu’s Fresh ₦10.79trn Foreign Loan
