The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated this on Monday while addressing members of the House of Representatives, who summoned him to explain why the government increased the pump price of petrol.
His comments came amid a resurgence of militancy in the Niger Delta, which produces most of the crude oil that the country relies on for around 70 per cent of national income.
Kachikwu said efforts would be made to engage with people in the area.
Nigerian oil output has been driven lower after attacks by a group calling itself the Niger Delta Avengers, which said it wanted a greater share of oil profits and independence for the swampy region where residents have long complained of poverty, Reuters reported.
Attacks in the last few weeks have hit platforms belonging to Chevron and Shell.
“Because of the incessant attacks and disruption of production in the Niger Delta, as I talk to you now, we are now producing 1.4 million barrels per day. We were at 2.2 million bpd, but we have lost 800,000 barrels,” Kachikwu said.
The 2016 budget assumes oil production of 2.2 million barrels per day at $38 per barrel.
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