The Federal Government don admit say Nigeria no get enough freely available crude oil to meet the Dangote Petroleum Refinery daily requirement of 700,000 barrels, undermining their efforts to increase production and to end oil theft.
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, nia drop dis update during one television interview for over weekend.
The disclosure show even with renewed talks about government intervention for the petroleum market, with proposals for production subsidies, the 30-days petrol discount and other measures to support domestic refining and reduce the cost of petroleum products.
He explain say Naija total crude oil production no translate into equivalent volume wen dey available for allocation by the government.
Oyedele come talk say dem share Naija crude oil production of about 1.8 million barrels per day among parties wen dey operate under production-sharing contracts and joint ventures, while production costs, royalties and other obligations come still reduce the volume wen dey available to the government.