adminKashim Shettima, the Vice-President of the Federal Republic of Nigeria has said the country now exports 1.7 million barrels of oil per day crude oil.
The Vice President who said this at a book launch in Abuja, on Thursday, added that with this development that there is hope ,even as Mr President is labouring to put things right.
However, according to the Organisation of Petroleum Rxporting Countries{OPEC)Nigeria’s output to the international market stands at 1.36 mbpd as reported by a secondary source in June. t The organisation informed that Nigeria’s production increased by 0.74 percent to 1.38 mbpd based on the information from the secodary source.
Be that as it may, the Vice-President also informed that President Tinubu has the courage, the political courage, and the willpower to take far-reaching decisions, and it always comes at a price.
He stressed that, “When a woman is about to give birth, it’s a very painful process but after the child has come forth, it’s a cause for celebration. I believe that posterity will be very kind to this poor man.”
“He has taken far-reaching decisions, and the economy, we have crossed the river.”
“The economy is now on a path to sustain growth. We are now exporting about 1.7 million barrels of oil per day, the Naira is stabilising against the dollar, and with the food security crisis that is confronting us, we cannot divorce ourselves from the realities in the global space.”
“It’s not a localised phenomenon but ours was further compounded by the security challenges in the traditional food basket of the country, the North Central, and the North West but the security issues will be addressed, and be rest assured that in the coming months, Nigerians will see a sea of change in their fortunes. I want to ask all of us to rally around this poor man.”
Shettima, while adding that the economy is now on the path of growth, enjoined Nigerians to be patient with the current administration.
However, OPEC, further, said that Nigeria’s average daily crude oil production increased to 1.3 million barrels per day (bpd) in July.
It claimed that, direct communication with Nigerian officials served as the basis for the production data in its monthly oil market report, released on sometimes ago.
OPEC receives data on crude oil production from two sources: direct communication — which is from member countries — and secondary communication, such as energy intelligence platforms.
According to OPEC, the current output figure represents a 2.36 percent rise from the 1.27 million bpd recorded in June.
Consequently, the current production figure means that Nigeria retained its position as the biggest oil producer in Africa, surpassing Angola, which produced 909,000 bpd in July, according to the oil alliance.
OPEC said Congo was the third-largest oil producer in Africa in July, producing 257,000 barrels per day.
Among those present at the book launch titled: ‘Navigating the Politics of Universal Education Policies in Nigeria’, were Governor Biodun Oyebanji of Ekiti State; Chief Bisi Akande; Chief Pius Akinyelure, Chief of Staff to the President Femi Gbajabiamila, among others.
The book was authored by Prof Modupe Adelabu, a retired professor of Educational Administration at the Department of Educational Management at the Obafemi Awolowo University, Ile-Ife, Osun State.
