Following Ibe Kachihwu’s statement on the plans in place for the oil sector of the country on Monday, March 14, 2016, President Muhammadu Buhari has stated that his administration is focusing on reducing cost and encouraging oil exploration.
Read: Nigeria to begin exportation of petroleum, petrochemical products in 4 years
Vice President, Yemi Osinbajo who represented Buhari at the opening ceremony of the African Petroleum Congress and Exhibition (CAPE VI) said that the FG has started working on increasing the country’s oil production by 30% in the next few days.
Nigeria, which currently produces about 2.2 million barrels of crude oil per day, set to increase its production to 2.8 million barrels per day.
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Recently, Ibe Kachikwu, Minister of State for Petroleum Resources during a recent media brief in Abuja stated that within the next four years, Nigeria would begin to export refined petrol and petrochemical products.
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