, on Friday, April 12, blamed the crude oil production in the first quarter 2024 on challenges with the Trans Niger Pipeline and the maintenance carried out by some oil companies.
According to the statement, Lokpobiri is intensifying efforts to restore the production to previous level of 1.7million barrels per day and also exceed it. The Minister also announced that the issues have been adequately addressed, adding that production is expected to return to its previous levels in the coming days. He said that Nigeria’s oil production, including condensate, which was approximately 1.7 million barrels per day prior to these developments, will soon be restored.
He stated: “This strategic approach will enable the country to ramp up production, thereby generating vital revenue to stabilize the nation’s foreign exchange reserves. The increased revenue will also empower the government to fulfill its commitments in providing essential infrastructure, as outlined in the 2024 budget.”
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