Minister of State for Petroleum Resources and Chairman of the Nigerian National Petroleum Corporation (NNPC) Board, Ibe Kachikwu was a guest on CNN’s Quest Means Business with Richard Quest.
On getting oil production level up, Kachikwu said that the federal government is working on providing lasting solutions to the various challenges from militancy to oil price.
He also added that Nigeria would need an increase of about 900,000 barrels per day to recover oil lost due to rising militancy in the Niger Delta region.
When reminded that the Organisation of Petroleum Exporting Countries (OPEC) is planning to freeze output in order to increase the price of the product, Kachikwu said he is not optimistic that that would work, adding that it has been tried in the past but failed.
He added that the President Muhammadu Buhari-led administration has not given up on the rescue of the abducted Chibok girls and reuniting them with their parents.
Listen to it here: