Nigeria expects a significant improvement in oil production by the end of the first quarter of 2023

Nigeria’s national security adviser said on Thursday that his country expects a significant improvement in oil production by the end of the first quarter of 2023, in light of the government’s heightened security efforts in the delta. of Niger.

The country’s oil production fell below 1 million barrels a day in August, its lowest level in several years, as surging crude thefts and pipeline sabotages forced some companies to cut or halt production. production.

However, National Security Advisor Babagana Monguno told reporters that the security services have stepped up their efforts to improve the security situation. in collaboration with other ministries.

He said, “We hope there is a significant improvement in oil production by the end of the first quarter of next year,” without giving any details.

Nigeria’s agreed production quota within the Organization of the Petroleum Exporting Countries (OPEC) is 1.8 million barrels per day, but its production is much lower, which deprived it of benefiting from the boom of oil prices quest’year.

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