Nigeria: Kachikwu Clarifies Nigeria’s $100 Billion Loss to Militancy in Niger Delta

22 Feb 2017   Nigeria

The Minister of State for Petroleum, Dr. Ibe Kachikwu, has clarified the $50-$100 billion said to have been lost to the attacks of oil and gas infrastructure by the Niger Delta militants. In his recent monthly podcast, the minister was quoted by some media reports (not THISDAY) as saying that Nigeria lost $50-$100 billion in oil revenue at the peak of the militant attacks on oil and gas facilities in the Niger Delta, which slashed oil production from 2.2 million barrels per day to one million barrels per day last year. But in a statement yesterday, the Technical Assistant (Media) to the minister, Uche Ozurumba Adighibe, made a clarification on the $50 – $100 billion unearned income lost to militancy, which was mentioned by the minister. Adighibe, who quoted the minister as having said in the podcast that “as at 2016 on the average and looking at it historically […]

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