Business
Shell Shuts Down Trans Niger, Nembe Creek Pipelines …Blames Sabotage

Permanent Secretary, Ministry of Education, Rivers State, Barrister Minabelem Michael West (middle), addressing participants of SEEFOR project programme organised by Rivers State Government in Port Harcourt on Friday. With him are Permanent Secretary, Ministry of Budget and Economic Planning, Sir Austin Orlu Orlu (left) and SEEFOR Project Cordinator, Mr, Keleous Amos. Photo: Nwiueh Donatus Ken
Anglo-Dutch oil giant, Shell, has shut down two key supply pipelines in Nigeria as a result of leaks, sabotage and have therefore declared a “force majeure” on crude oil exports from the Bonny terminal.
Nigerian Subsidiary of Shell, Shell Petroleum Development Company of Nigeria (SPDC), said in a statement that the force majeure became effective, Thursday, “following the shutdown of both the trains Niger Pipeline (TNP) and Nembe Creek Trunkline (NCTL)”.
The two pipelines take crude to the Bonny Light exports terminal, one of the country’s main oil terminals.
According to the company, a leak was reported on the TNP at Oloma South, Rivers State, while the NCTL was shut-down for the removal of crude theft points.
The company stated that it was working to repair and reopen the two pipelines as quickly as possible.
The ‘force majeure’ is a legal term releasing company from contractual obligations when faced with circumstances beyond its control,” it said.
The Tide reports that SPDC did not reveal the volume of out put affected by the incident.
SPDC has blamed repeated oil thefts and sabotage on key pipelines as the major cause of oil spills and pollution in the oil-producing region.
An estimated $6 billion loss of oil has been blamed annually on thieves.
This huge loss on the national economy has for decades been the bane of the national economy.
The Tide reports that the third party activities resolves around a Cartel located amongst sacked or retired oil workers, JTF, communities and the Nigeria National Petroleum Corporation (NNPC).
Chris Oluoh
Transport
Nigeria Rates 7th For Visa Application To France —–Schengen Visa
Transport
West Zone Aviation: Adibade Olaleye Sets For NANTA President
Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
-
News2 days agoDon Lauds RSG, NECA On Job Fair
-
Niger Delta18 hours agoPDP Declares Edo Airline’s Plan As Misplaced Priority
-
Nation19 hours agoHoS Hails Fubara Over Provision of Accommodation for Permanent Secretaries
-
Transport21 hours agoNigeria Rates 7th For Visa Application To France —–Schengen Visa
-
Sports19 hours agoSimba open Nwabali talks
-
Niger Delta20 hours ago
Stakeholders Task INC Aspirants On Dev … As ELECO Promises Transparent, Credible Polls
-
Niger Delta18 hours ago
Students Protest Non-indigene Appointment As Rector in C’River
-
Oil & Energy20 hours agoElectricity Consumers Laud Aba Power for Exceeding 2025 Meter Rollout Target
