In a press statement issued from Abuja by his Special Assistant for Media and Communications, Nneamaka Okafor, Lokpobiri assured stakeholders that measures are being implemented to not only restore production to its previous levels but also surpass them. He emphasized that the reported shortfall stemmed mainly from issues with the Trans Niger Pipeline and maintenance work carried out by oil firms operating in Nigeria.
The Minister disclosed that the identified issues have been adequately addressed, with production expected to return to its former levels in the coming days. Nigeria’s oil production, including condensate, which previously stood at approximately 1.7 million barrels per day (bpd), is set to be restored soon.
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Lokpobiri also highlighted the Ministry of Petroleum Resources’ active engagement in policy evolution aimed at optimizing the utilization of all available oil wells in Nigeria. This strategic approach is designed to boost production, thereby bolstering vital revenue streams to stabilize the nation’s foreign exchange reserves and support essential infrastructure development outlined in the 2024 budget.
Amidst these challenges, Lokpobiri expressed optimism and urged stakeholders to remain committed to ensuring the sustainability and growth of Nigeria’s oil sector, which plays a pivotal role in driving the nation’s economy forward
