Amnesty Programme: Nigeria Saved N33bn Daily – Kuku

kingsley kukuThe Presidential Adviser on Niger Delta, Mr. Kingsley Kuku, has disclosed that the amnesty programme for Niger Delta militants recouped an average of N33 billion into the nation’s coffers, leading to unprecedented successes in infrastructure development.

In a briefing weekend, Mr. Kuku said the recouped earnings helped the administration to achieve notable feats in critical sectors such as the Aviation and Railway sub-sectors respectively.

He said: “From a production level of a paltry 700,000 barrels of crude oil per day as at January 2009, the relative peace that now prevails in the Niger Delta has aided the remarkable growth of Nigeria’s oil production to between 2.6 and 2.7 million barrels per day as at today”.

“If you compute this savings with prevailing exchange rate of N160 to $1, daily production savings for Nigeria and its Joint Venture Partners currently stand at N33.4 Billion per day. If you break this down further especially given that oil production in Nigeria hovered between 2.4 and 2.6 barrels in 2012, you would discover that savings for Nigeria and the JV partners for year ending 2012 is estimated to be at about N6.3 trillion.”




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