Abia State Government has pledged to tackle Nigeria’s decline in crude oil production, with Governor Alex Otti making the promise during a visit from the Defence Headquarters Joint Monitoring Team.
The team, led by Maj Gen J.A.L. Jimoh, met with Otti at his country home in Nvosi, Isiala Ngwa South LGA.
Otti expressed concerns over the drastic drop in crude oil production, citing figures for June, July, and August, which averaged around 1.4 million barrels per day – significantly lower than Nigeria’s 2.2 million barrels per day quota.
He noted that 20 years ago, Nigeria’s production capacity was approximately 2.5 million barrels per day.
“The drop in oil production affects exports, which in turn affects foreign exchange earnings,” Otti said. He identified oil theft and Niger Delta insurrections as key factors hindering Nigeria’s crude oil production.
Maj Gen Jimoh emphasized the Joint Monitoring Team’s role in addressing challenges in the oil sector. “We will spare no effort to restore optimal operational efficiency within the oil sector,” he assured.
The country’s oil industry is dominated by states like Akwa Ibom, which produces around 504,000 barrels per day.
