Nigeria Loses N20b In A Month As Militants Attack Continue

The Nigerian National Petroleum Corporation, NNPC, has disclosed that the country lost N20billion in April due to attacks on Forcados Export Line by the Niger Delta Avengers.






In its Monthly Financial and Operations Report for April released in Abuja on Wednesday, NNPC said its revenue dipped in April by 4.99% to N102.45bn from N107.83bn recorded in March.

The corporation’s expenses also dipped by 3.82 per cent to N121.88billion compared to N126.72billion spent in the preceding month.

It attributed the drop to pipeline attacks which forced one of its subsidiaries, Nigerian Petroleum Development Company (NPDC), to undertake a production shut-in, which resulted in the loss of monthly crude oil revenue of N20 billion.