Business
Mosimi oil depot begins loading one year after
Nigeria National Petroleum Corporation depot at Mosimi has reopen and resumed loading after almost a year, when a major pipeline was vandalised in May 2016, NNPC Group Managing Director Maikanti Baru has said. The resumption of loading he said will help the Nigerian National Petroleum Corporation (NNPC) stem losses that arose from the damage, as trucks had to drive from Lagos to replace the pipeline.
The NNPC also plans to bring back online pipelines from the city of Kaduna to Kano, Jos and Suleja, Baru said, though he gave no further details.
Theft, sabotage and other attacks on oil product pipelines are a major problem for the NNPC. Last year, militant attacks on facilities in the Niger Delta region cut Nigeria’s oil production by as much as a third.
Nigeria’s government relies on crude exports for roughly two-thirds of its revenue.
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