Doubtful math
Cokorioko.net
12 December 2011
Posted by: Cocorioko Newspaper By Alusine.M.Fofanah Press Attaché , Abuja , Nigeria
Special adviser to the President on the Niger Delta, Hon. Kingsley Kuku has said that the Nation’s estimated savings, as a result of increase in Crude Oil production, is expected to hit a whooping N6 trillion Naira by the end of the year.
Hon. Kuku pointed out that the country’s production savings currently stands at N104 million per day. The Special adviser, who is also the coordinator of the Federal Government Amnesty Programme stressed that because of the Amnesty Programme, Peace, Safety and Security have been consolidated in the Niger-Delta and the Nation Economy as rebounded.
Kuku made the disclosures in a speech entitled: ‘’Presidential Amnesty Programme has consolidated Peace, Safety and Security in the Niger Delta and boosted Nigeria Abuja
Hon. Kuku said beyond, the Disarmament, Demobilisation and Reintegration of the Niger-Delta ex-agitators enlisted in the Amnesty Programme, I want to stress that because of the Programme, Peace, Safety and Security have been consolidated in the Niger-Delta and the Nigerian economy is rebounded as a result of this’.
‘’Let us even do a little Arithmetic: Before the proclamation of Amnesty for the Niger Delta ex-agitators, Oil Production dropped to an all –time low of the Post-Amnesty Programme, production immediately rose to 2.4 Million Barrel Per Day {BPD} .
‘’Today, production stands at 2.6 Million Barrels Per Day. This means an increase of 1.9 Million BPD with the current selling price at USD $ 110 Per Barrel and estimated cost of production in Dollars Per Barrel standing at US $ 55, it means a production savings of US $ 1, daily production savings for Nigeria current stands at N16, 720,000,000 per day while the savings for year ending 2011 is estimated to be a whooping N6 trillion!
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