Independent Television/Radio Television and Radio Broadcast
Minister of State for Petroleum Resources, Doctor Ibe Kachikwu has said Nigeria’s crude oil production has fallen by almost forty per cent to one point four million barrels per day due to militant attacks on facilities in the Niger Delta.
The Minister stated this while addressing members of the House of Representatives, who summoned him to explain why the government increased the pump price of petrol.
His comments came amid a resurgence of militancy in the Niger Delta, which produces most of the crude oil that the country relies on for around seventy per cent of national income.
Doctor Kachikwu assured that efforts would be made to engage with people in the area.
He also noted that the government is trying to create funding mechanisms for some private investments, including funding mechanisms for some modular refineries and getting them involved in the security of the facilities.
