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Nigeria loses N1.22trillion to deficit oil production

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Reports say Nigeria was unable to produce 22.658 million barrels of crude oil valued at N1.22trillion in the first quarter of 2022.

Figures obtained from OPEC showed that the crude oil production quota approved for Nigeria in January this year was 1.683 million barrels per day.

An analysis of data contained in various OPEC reports released in different months this year, showed that Nigeria failed to meet its oil production quotas in January, February and March 2022.

Written by: Helen Obih

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