Business
Checking Pipeline Vandalism In Nigeria
Iheanyi Udah is a 35-year-old farmer living in Onicha-Amiyi, Isuikwuato Local Government Area of Abia State.
The man is always eager to tell any willing listener how his two hands became severely burnt.
“One day in 2004, I just returned from the farm and saw several people in my village scooping fuel from a vandalised pipeline. I joined them but at a stage, an explosion occurred.
“Several people were burned to death while some lucky ones like me survived with severe burns; it is by God’s grace that I survived the fire incident,’’ he said.
“Even if you offer me N1 million to go near a vandalised pipeline again, I will bluntly reject it because it is evil and deadly. Such escapades bring death within a split second. People should avoid getting involved in pipeline vandalism,’’ he added.
Udah‘s experience reflects the experiences of many others who have encountered fire disasters at some vandalised sections of petroleum pipelines which traverse the country.
Prior to the Onicha-Amiyi incident, concerned citizens recall the pipeline inferno in Jesse, Delta State, in 1998 that left scores dead and wounded.
To avoid the recurrence of such incidents, the management of the Port Harcourt Refining Company (PHRC) recently launched an anti-pipeline vandalism campaign to sensitise neighbouring communities to the risks and dangers of pipeline vandalism.
Mr Tony Ogbuigwe, the company’s Managing Director, urged the communities to assist in efforts to check pipeline vandalism.
“Pipeline vandalism can lead to oil spills, which can also lead to degradation of the environment. It can also pose health hazards and if there is fire, it can also cause deaths,’’ he said at the inauguration of the campaign in Okrika, Okrika Local Government Area of Rivers State.
Ogbuigwe, who was represented by Mr Ralph Ugwu, the company’s Public Affairs Manager, pledged the company’s readiness to stage sustained public awareness campaigns on the dangers of pipeline vandalism.
However, Ajomiwe Ezuma, a historian, identified poverty as one of the root causes of pipeline vandalism in the country.
‘Poverty in the land has driven people to rupture pipelines in search of petroleum products. I must confess, it is a very risky venture but people, out of sheer desperation and frustration, still embark on it.
“More public enlightenment campaigns should be carried out to educate the people, especially those living in communities around the pipelines, on the dangers of pipeline vandalism.
“Some pipelines may be carrying gas, crude or refined petroleum products like petrol, kerosene or aviation fuel but the volatility of the pipelines’ content does not matter to the desperate people who jettison the risks involved in pipeline vandalism,’’ Ezuma said.
Concerned citizens note that many people have died in the jungles, creeks or seas while vandalising oil pipelines.
They say that attempts to rupture a high-pressure oil pipeline usually provoke instant fire, adding that the development often leads to the burning or death the perpetrators, who could even be swept away by sea tides.
Ezuma urged the communities to organise in-house campaigns for the residents, particularly youths, who were often tempted to partake in pipeline vandalism because of their “get-rich-quick’’ worldview.
“ It is the duty of the communities to prevent their people from falling victim to the effects of pipeline vandalism,’’ he adds.
He stressed that apart from the loss of lives due to infernos at vandalised pipelines, the environment became damaged, while the national economy was sabotaged whenever an oil pipeline was vandalised.
Ogbuigwe, nonetheless, stressed that the PHRC campaign would expose all the dangers inherent in pipeline vandalism to the people of Okrika and other communities more lucidly.
“ The campaign, which is primarily targeted at exposing the evils of pipeline vandalism; is also targeted at enlightening the people about the evils of the aberration,’’ he said.
“We also want to thank the people for being hospitable hosts over the years we have been operating here. There is peace and harmony and we received their total support.
“We urge the people to continue to support us, so that, in concert with them, we will operate the refinery for the benefits of our people here and the nation at large,’’ Ogbuigwe said.
Mr Alfred Orupabo, the Secretary of Okrika Local Government Council, also urged the people to be mindful of the dangers of pipeline vandalism.
“Pipeline vandalism is evil; it is dangerous to the environment, the people’s health and the nation.
“We will cooperate with the PHRC to ensure that pipeline vandalism does not occur here. People must refrain from it because of its very deadly effects,’’ he said.
Mr Robert Obizie, an official of the PHRC’s Community Relations Unit, said that the public awareness campaign would be a continuous activity until the communities and their residents were adequately sensitised on the issue.
“It is a very big task but we believe that through our constant engagement with the people via public enlightenment activities, the people will be able to absorb our message that pipeline vandalism destroys lives, the environment and the country’s economy,’’ he said.
Mbonye writes for NAN.
Mike Mbonye,
Business
CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
Business
Shippers Council Vows Commitment To Security At Nigerian Ports
Business
Nigeria Risks Talents Exodus In Oil And Gas Sector – PENGASSAN
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
Mr Festus Osifo, President of PENGASSAN, said this while briefing newsmen at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja.
He said the sector was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
“A drilling engineer in Nigeria does the same job as one in the U.S. or Abu Dhabi,” he said.
Osifo said the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
He said PENGASSAN had recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said.
He urged government to coordinate fiscal and monetary policies to ensure economic gains reach households.
“Translate macro results to food on the table,” he said.
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