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Gov Udom cautions against vandalism of electricity installations
ExxonMobil expects $200m loss over job cuts
Port Harcourt -- Akwa Ibom State Governor, Mr. Udom Emmanuel, has urged indigenes and residents of the state to desist from vandalising electricity installations.
Governor Emmanuel, who particularly lamented the high rates of vandalism along the Abak-IkaEtim Ekpo high tension lines, regretted that funds invested into electricity in the area have not yielded desired results due to activities of vandals.
To this end, the governor announced the readiness of his administration to build a substation to unbundle Abak-Ika-Etim Ekpo electricity line, in order to improve power supply for consumers in the three local government areas, LGAs.
Speaking at the official opening of a religious radio station, Redemption 101.5 FM in Abak LGA of the state, he said any act of vandalism on any high-tension line in the area, affects the three LGAs, hence the need to unbundle the line.
He also directed that Abak should be included as one of the beneficiaries of the World Bank solar power programme for communities in the state.
"Not that we don’t put money in this line but when we put money in this line, the rate of vandalism in this area is one of the highest in the state and unfortunately, Abak line takes straight from Abak to Ika and Etim Ekpo.
"So if people in Ika or Etim Ekpo vandalise their high tension, it will affect Abak immediately," the Governor said.
He congratulated the Chairman and Chief Executive of Redemption
FM, Professor Ahaziah Umanah, for nurturing the vision of the radio station, and urged the media in the state to serve as a vehicle for propagation of positive lifestyles.
Lagos -- Exxon Mobil Corp has said it expects up to $200 million in charges this year as it enforces plan to reduce its workforce by 14,000, according to a regulatory.
The $200 million expected charges comes in an era when other multinationals are cutting costs after a biting pandemic year.
Exxon has slashed costs due to the pandemic, delayed projects, and started trimming an estimated 14, 000 jobs globally, including contractors.
The firm reported its first annual loss last year as the pandemic battered energy demand.
The company will spend more this year than in 2020 as workers exit, according to the filing reported by Reuters.
Total cash outflows would be between $400 million and $600 million, versus $47 million last year, according to the filing. Exxon had set aside some money last year toward the costs.
The severance cost estimate does not include job cuts related to changes in the company's portfolio, it said.
Reductions should be "substantially complete" by year-end, including voluntary and involuntary exits and the use of fewer contractors, Exxon said.