The Federal Government has revealed that the Nigerian National Petroleum Company (NNPC) is struggling with inadequate funds to repair and replace its outdated pipelines. Many of these pipelines, originally constructed in the 1960s and 1970s, have surpassed their expected lifespan and are now heavily corroded, making them susceptible to vandalism and leaks.

Minister of State for Petroleum Resources, Heineken Lokpobiri, emphasized that while there are more advanced and costly pipeline technologies available, NNPC may not have the financial capacity to invest in these upgrades. He suggested that public-private partnerships (PPPs) could be a viable solution to address the issue.

Lokpobiri noted that attracting private sector investment requires building confidence in the country’s oil sector. He acknowledged that past years saw a lack of foreign investment but indicated that the current administration has been working to restore investor confidence and bring in new investments.