* Says shocks in oil market difficult to manage *Attributes high cost of fertiliser to scarcity of potassiumThe federal government will boost crude oil production through the reactivation of oil wells that were shut down due to massive oil theft, the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, has said.
“We are very hopeful that we will be able to reach our OPEC quota of 1.6 million barrels per day by the next couple of days or one or two weeks,” Ahmed said. Crude oil sale is the nation’s biggest foreign-exchange earner. The country’s inability to meet its production targets is an indication that Nigeria, which has also been battling a dollar shortage is losing an opportunity to build its foreign reserves.
“It’s been one shock after another. It’s been very difficult to manage but the current crude oil prices are supposed to be an opportunity for Nigeria but it’s for us now a mixed bag. Even though we are an oil-producing country, we also import refined petroleum products.
Why announcing it, so that saboteurs can go back to work?
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