Nigerian Government has announced that it lost out about $100 billion in revenue last year due to low production as a result of militant attacks in the oil-rich Niger Delta region.
At the peak of the attacks, the country’s production fell by 1 million barrels a day to 1.2 million a day according to the country’s minister of state for petroleum Emmanuel Kachikwu.
However,recent peace efforts have significantly reduced the frequency of attacks on oil infrastructure though the country still struggles to increase output even as one of its largest export terminals remains closed.
Kachikwu said they will continue to engage with the militants in order to find a long lasting solution adding that they were very bullish about this.
