Nigeria’s crude oil production rises to 2.6m barrels daily – FG

Lagos – Nigeria’s crude oil production has increased from one million barrels per day in 2008 to 2. 6 million barrel per day due to the improvement in post-amnesty programme.

President Goodluck Jonathan made this known in an address at the official opening of Nigerian Oil and Gas (NOG) conference in Abuja.

The President, who was representated by the Special Adviser to Government on Petroleum Resource, Mr Emmaunel Egbogha, said that the post-amnesty initiative was working.

He said that the new level of oil production had fully justified the amnesty policy as initiated by the Federal Government.

Jonathan urged all the local and state governments to engage the youth in various capacities and rehabilitate them towards national development.

“This is evidenced in the growth of the oil production from an average of one million per day of crude oil and condensate in 2008 to an average of 2.6 million per day of crude oil and condensate in 2010 and today.

The President said that the post-amnesty programme was creating jobs for youths as alternative to violence.

“I have advised the states and local government authorities to engage the youths and encourage them to use their initiatives so as to build on the success so far recorded on the amnesty programme.

“It is my hope that the various policy initiatives of government will continue to keep Nigeria on the global map for oil and gas investment,” he said.

The President said that the focus of this year’s conference was on project financing and the impact of the Petroleum Industry Bill (PIB) on the oil and gas industry.

He said that the oil and gas industry had not only propelled the Nigerian economy, but also accounted for about 90 per cent of our export earnings.

“Over the years, the Federal Government has developed various policies that are particularly directed to creating the necessary fiscal conditions to encourage investment in the economy.

“These policies have facilitated economic growth for the development of local capacity to support the industry was minimal and generally slow.

“Our main task now is to reinforce the linkages between the oil and gas sector to the larger economy by ensuring the increasing local content input and greater participation of Nigerian companies in the oil and gas activities.”

(Source: http://www.vanguardngr.com/2011/02/nigeria%E2%80%99s-crude-oil-production-rises-to-2-6m-barrels-daily-fg/)