Categories: Economy

NNPC Spends N648.82bn on Pipeline Maintenance in 6 Years, More than N617.6bn Allocated to Health Sector in 13 Years

BudgITng Says NNPC Spends N648.82bn on Pipeline Maintenance in Six Years

The Nigerian National Petroleum Corporation (NNPC) spent a total sum of N648.82 billion on pipeline maintenance in five and a half years, said BudgIT Nigeria, a civic tech organisation that monitors government spending,

The details published on the organization’s official Twitter handle@BudgITng, revealed that between January 2015 and May 2020, the NNPC spent N648.82 billion on 10,257 pipeline break points.

BudgIT further stated that the amount spent on pipeline maintenance in slightly above five years is more than the N617.56 billion allocated to the health sector in the last 13 years.

It, therefore, stated that vandalism is bleeding the nation dry.

Still, it does not explained the wide disparity in spending on health sector and pipeline maintenance despite the nation battling Ebola, Lassa Fever and presently COVID-19 pandemic during the said period.

 

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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