SHOCKING: Nigeria loses $6.72m daily to Niger Delta Avengers

– Nigeria is losing $6.72m daily to Niger Delta Avengers

– The $6.72 million was arrived at due to daily loss of 140,000 barrels of crude from oil fields operated in Bayelsa state by Nigerian Agip Oil Company and Aiteo Oil

-The implementation of the N6.07 trillion 2016 budget premised on a daily crude oil production of 2.2 million barrels is currently shaking

Niger Delta militants

Facts have shown that Nigeria is losing an estimated $6.72m (about N1.3 billion) due intense bombing of oil installations in the oil rich Niger Delta region of Nigeria by militant group, Niger Delta Avengers (NDA).

According to a report by The Nation, the $6.72 million was arrived at due to daily loss of 140,000 barrels of crude from oil fields operated in Bayelsa state by Nigerian Agip Oil Company (NAOC) and Aiteo Oil and the $48 per barrel price benchmark.

According to Eni, an Italian energy firm and parent company of Agip, said the oil firm’s production had been cut by 65,000 barrels per day following last Friday’s attack on its pipeline in Bayelsa.

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Previous attacks in Agip oilfield on May 18 and May 24 were said to have resulted in a shutdown of some 5,200 barrels of the company’s equity share of oil output.

“The total deferred production due to the attack is 65,000 barrels of oil equivalent daily. There is no further impact on production, since all production from the swamp area has already been stopped days ago,”  a source told the newspaper.

Meanwhile, the development will likely affect the implementation of the N6.07 trillion 2016 budget premised on a daily crude oil production of 2.2 million barrels.

The Niger Delta Avengers has claimed responsibility for most of the attacks and has rejected dialogue with the Federal Government, demanding instead a Niger Delta Republic.

Also, the federal government of Nigeria has begun an investigation into the possibility that some foreign nations may be backing Niger Delta Avengers.

The intelligence arm of the military and other security agencies were said to have launched an investigation into the source of supply of the sophisticated arms at the disposal of the militant group.

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