(Ecofin Agency) - According to figures provided by the Organization of Petroleum Exporting Countries (OPEC), Nigeria’s domestic crude oil production increased by 403,900 bpd to 1.940 million barrels per day in December, compared to the 1.536 million bpd recorded in November 2016.

This increase is as a result of the Federal Government’s proposal to militant groups in the oil-rich Niger Delta region, for a comprehensive dialogue aimed at resolving all the issues.

Nigeria’s crude oil output dropped to as low as 900,000 bpd by early 2016, due to vandalism and militant’s activities in the region. This level is far below the 2.2 million barrels benchmarked in the budget.

However, the Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, in his 2017 forecast, hoped that Nigeria would achieve 2.1 million barrels per in January.

He said that the damage done to the Forcados export pipeline had affected the country’s oil output negatively but the issue is currently being addressed, the Guardian news reports.

Anita Fatunji