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Ibe Kachikwu

Nigeria oil quota may steady soon at 2.6m bpd as dialogue yields results

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Indication emerged yesterday that the Nigeria’s oil production will in coming days come back to normal following a fruitful dialogue between the presidency and Niger Delta leaders.

The Minister of State for Petroleum, Dr. Ibe Kachukwu said yesterday that “The reality is that as of today and this morning, we are at 2.1 million barrels production”.

Nigeria normally produces around 2.4 million barrels per day (bpd) OPEC quota, but output dropped to a low of 1.4 bpd this year due to rebels’ attacks.

Addressing the press after a meeting between Nigerian President Muhammadu Buhari and representatives from the oil-producing Niger delta region, Kachikwu said “a lot of behind the scene engagements” were paying off.

“Part of the expectations by 2017 is to target zero shutdowns as a result of militancy,” Kachikwu said, describing the talks as “fairly good, fairly civilised dialogue”.

Chief Edwin Clark, a veteran leader who spoke on behalf of some of the militant groups in the country’s restive southern swamplands, including the Niger Delta Avengers.

Clark made 16 demands to the Nigerian government, including revamping an amnesty programme for ex-militants, reducing the military presence in the region and cleaning up pollution.

Key aspect of the demand dwelt more on a greater share of oil revenue.



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