FG, wooing OPEC Members to spike global Oil prices

The Federal Government says it is pushing Member States of the Organization of Petroleum Exporting Countries, OPEC, to cut oil production so as to spike oil prices globally. 

The Minister of Power, Works and Housing, Mr Babatunde Fashola disclosed when he paid Anambra Governor, Willie Obiano a courtesy visit as part of a one day working visit he made to the state. 

Mr Fashola who noted that as a result of the sustained negotiations at the floor of the OPEC, oil price has gone up from around 35 dollars per barrel last year to about 56 dollar per barrel this year, adding that with the increase, oil production in the country should increase but due to vandalization activities in the Niger Delta region, it is dropping. 

He said the implication of the Gas sabotage and vandalization in the Niger Delta region is that while the Federal is completing transmission lines and gaining power in some areas, it does not have enough gas to fire the turbines, hence,  the efforts of the Federal government through Vice President Yemi Osinbajo to end the bombings in the region. 

The Minister who said the Federal Government is aware of the experience of Nigerians with estimated billing, revealed that they will soon commence the rigorous process of Power audit across the country, to identify the kinds of consumers of electricity and the tariff under which they should be charged so as to permanently address the metering issues. 

On the second Niger Bridge, Mr Fashola said the Buhari administration has approved the commencement of piling under early works four which can only be achieved in this season when the water level is low at 16 meters, adding that by March, the contractor will be back to site. 

He assured that through prompt release of funds and constant supervision, the Federal government will ensure that the project is delivered on schedule.