At the ongoing Intra-African Trade Fair 2021 taking place in Durban, South Africa, President Muhammadu Buhari has blamed the activities of militants in the Niger Delta region for decline in the country’s crude oil production during his first term, May 2015 to 2019.
Mr. President who stated this during an interview on Arise TV monitored by EnergyDay, explained that the progress his administration could have achieved during his first tenure, in terms of oil production, was marred by the activities of the Niger Delta militants.
“What we are doing is to build infrastructure. I was constrained to go verbal several times that people should check the Central Bank and the NNPC.
“Between 1999 and 2014, Nigeria was producing averagely 2.12 million barrels per day at an average cost of $100 per barrel,” he said.
Buhari lamented the fall in crude oil price due to the insecurity being experienced then while commending the resilience of his administration in the face of the frustration.
“When we came in, we were faced with the challenges of the militants and that made oil production goes down by half a million barrels per day.
“And then the cost of petroleum went down to $77 per barrel from $100. And you know the condition in the North-East, the Condition in the South-South, then you can appreciate within the time and resources that were available, how well our administration has been doing.”
Speaking further, the President stated that the Government should be given credit for the effort it has put into road construction which, according to him, has helped facilitate economic activities and ensure free flow of people, goods and services.
“I wonder whether you used to see the level of accidents that’s okay between Between Lagos and Ibadan alone not to talk of to carry you.
“Now go and see the rail and the road that has been done, people and now moving comfortably.”