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Despite dwindling revenue and increasing debt profile, the Nigerian National Petroleum Corporation (NNPC) spent about N33 billion on repairs and maintenance of pipelines within a space of 13 months.
The rate of pipeline vandalism has proven to be a recurrence, and as a result, part of the monthly remittances to the Federation Accounts is used for repairs and maintenance.
Between January 2020 and January 2021, data from the Federal Account and Allocation Committee (FAAC) showed that in the first quarter of 2020, a total of N10.2 billion was expended on repairs, with a crude and product loss valued at N21.6 billion.
In the second quarter of same year, the FAAC report also showed that despite the COVID-19 lock down which crippled economic activities across the country, N13.2 billion still went for repairs. ....

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