OPEC quota: Elumelu disagrees with Sylva over low oil sector investment - Punch Newspapers

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Nigeria’s billionaire businessman, economist, and philanthropist, Tony Elumelu, on Thursday argued that the reason why Nigeria had been unable to meet its oil production quota as approved by the Organisation of Petroleum Exporting Countries was not because of low investment but theft.

Early this month, Sylva said Nigeria’s inability to meet the oil production quota was due to the lack of investments in the oil and gas sector. “Lack of investments in the oil and gas sector contributed to Nigeria’s inability to meet OPEC quota. We are not able to get the needed investments to develop the sector and that affected us.”

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