JOHNSON MOMODU argues the need to reopen the asset to genuine competition based on present realities
There are moments when a single transaction reveals how seriously a nation values its own assets.
The proposed sale of a 40 per cent stake in the Amukpe-Escravos Pipeline has become exactly that. Not because the deal is complicated. Because the deal keeps coming back at the same old price as if nothing has changed.
That should not be the case because this is not a dusty, underperforming relic.
The 67-kilometre pipeline, with its 20-inch buried system and nameplate capacity of 160,000 barrels per day, ranks among the more reliable crude evacuation routes in the Niger Delta. It has delivered strong operational uptime around 95 per cent or higher. It has moved tens of millions of barrels. It has offered producers a dependable link to Chevron’s Escravos terminal.
