FG Panics As Nigeria Loses 14 Billion Naira Daily

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.

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