The Federal Government has hinted on concessioning all petroleum products’ pipelines to private investors.
This decision comes at the back of the recent increase in vandalism of pipelines.
Pipelines nationwide are solely owned by the Federal Government and have been under repeated attacks by vandals, a development that has significantly reduced the country’s crude oil output.
The Federal Government in a workshop dubbed “Development of Framework for the Concession of Nigeria’s Oil and Gas Assets,” held today November 4, 2022 discussed measures to put in place a framework for the concession of petroleum products’ pipelines to private investors in order to address the incessant vandalism of the assets.
The Permanent Secretary, Federal Ministry of Petroleum Resources, Gabriel Aduda, disclosed this on the sidelines “There are some challenges. We’ve been talking about vandalism. But if the private sector comes in, perhaps they will be able to safeguard their own pipelines more than the government is doing on its own.”
Aduda, who was represented by the Director, Midstream, FMPR, Felix Okeke, added, “So we are looking at getting the private sector to be involved.
