THE FEDERAL GOVERNMENT ANNOUNCED ON WEDNESDAY THAT NIGERIA’S OIL PRODUCTION IS CURRENTLY LOWER THAN ITS TECHNICAL ALLOWABLE CAPACITY BY ABOUT ONE MILLION BARRELS PER DAY. IT ATTRIBUTED THE LOW OIL OUTPUT TO CHALLENGES SUCH AS LACK OF INVESTMENTS, INSECURITY, AND REDUCTION IN HYDROCARBON FUNDING ARISING FROM ENERGY TRANSITION, AMONG OTHERS. THE FG DISCLOSED THIS AT THE HOST COMMUNITIES SENSITIZATION WORKSHOP WITH THE THEME “THE IMPLEMENTATION OF THE HOST COMMUNITIES DEVELOPMENT TRUST,” HELD IN ABUJA, THROUGH THE NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION. THE WORKSHOP WAS HELD TO Raise AWARENESS AND PROVIDE A FORUM FOR KNOWLEDGE SHARING ON THE IMPLEMENTATION  OF THE HOST COMMUNITY PROVISIONS IN THE PETROLEUM INDUSTRY ACT 2021.

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