The NDA has vowed to ensure that crude oil production is brought to zero level in the country until its demands are met.
Buhari was believed to be seeking Jonathan’s help to bring the crisis to an end and spare the nation’s economy of unwarranted damage.
In an apparent move to prepare the ground for this meeting, the president had in recent days been speaking glowingly about the former president whose activities in office have been the subject of investigations by the Economic and Financial Crimes Commission (EFCC).
Buhari had engaged in praising Jonathan over the defeat concession phone call the latter made to him
before the final tally of the 2015 presidential election result was known.
President Buhari also, on Friday, hosted former President Olusegun Obasanjo to a secret meeting at the Presidential Villa, Abuja.
The meeting, which took place inside the president’s office, lasted for about 30 minutes.
A government source expressed worries to Saturday Tribune over the spate of attacks on the pipelines and the effect on the 2016 budget.
“Two months from now, the effect will be known. What we are sharing now is money that accrued to our accounts about three months ago when there was relative stability in the oil sector. So, the effect of these militant activities will be known in August. It is very worrisome.
“You know those militants have almost crippled the oil industry, destroying an average of two major pipelines per day. By next month, states that will be able to pay salaries may not be more than five,” he said.
Vice-President Yemi Osinbajo, during the week, put Nigeria’s output at 1.6 million barrels per day (bpd) while the Avengers claimed they had reduced Nigeria’s output to 800,000 bpd.
The Head of Research, Ecobank Plc, Dolapo Oni, stated that Nigeria’s oil production had suffered a deficit of record 1.01 million barrels per day, raising the revenue losses by the country and the IOCs to N14.1 billion ($49.5 million) daily.
If the government is to be believed, the country is losing 600,000 bpd which is equivalent to N8.4 billion ($29.4 million) daily. On the other hand, going by the claims of the NDA, the country is losing 1.4 million bpd which is equivalent to N19.5 billion ($68.6 million) per day. The above calculations were based on N285 to $1 and crude price was based on $49 per barrel.
Nigeria’s quota from the Organisation of Petroleum Countries (OPEC) is put at 2.2 million bpd. This means Nigeria is allowed to sell officially 2.2 million bpd at the crude oil international market.
According to a source at one of the loading terminals who pleaded anonymity because he wasn’t authorised to speak to the media, “production is not as low as it was in 2008 when we were producing at about 700,000 bpd. But the activities of the NDA are taking their toll on the country’s output.”
Oni argued further that the crude production in Nigeria, hitherto the biggest crude producer in Africa, had now dipped to about 990,000 barrels per day.
In a more drastic estimate of the economic implication of attacks on oil and gas installations, Oni, according to Reuters, said: “Between pipeline repairs and militant attacks, Nigeria is probably producing no more than 990,000 barrels of oil every day.”
The Avengers, on Friday, attacked Shell Petroleum Development Company’s Forcados 48, Export line and the Brass to Tedibaba crude pipeline in Bayelsa.
Also, the Avengers, in a tweet Friday afternoon, warned an oil company, Agip, not to repair its damaged pipelines.
“We are sending this warning message to Agip not to commence repair works on any of the blown pipelines in Bayelsa. We will make you regret if you even dare us,” the group said.
The militant group claimed responsibility for the attack on its Twitter handle.
“At 3:00 a.m. today @Niger Delta Avengers blew up the SPDC forcados 48, Export line. We warned SPDC not to go ahead with repair works but they refused,” said the group.
It had on Thursday claimed responsibility for the bombing of pipelines conveying crude oil from Ogboinbiri to Tebidaba and from Clough Creek to Tebidaba. The two pipelines are located in Bayelsa State.
“At about 2.00 a.m. today @Niger Delta Avengers blew up the Ogboinbiri to Tebidaba and Clough Creek to Tebidaba Crude Oil pipelines in Bayelsa State. This is in line with our promise to all international oil companies and indigenous oil companies that Nigeria’s oil production will be zero,” the group said on its Twitter handle.
A top military officer at Forcados at the time of the destruction confirmed the incident, saying it was another trying period for the company, which only recently carried out repairs on it.
“The blast was deafening. It sent jitters down our spines. We thank God there is no casualty,” the source noted.
Source: Tribune