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Minister of State for Petroleum Resources, Emmanuel Kachikwu, said today that Nigeria lost up to $100 billion in revenue in 2016 as a result of attacks on oil infrastructure by Niger Delta militants.

In a video-clip posted on Facebook, Kachikwu said Nigeria's crude oil output fell by one million barrels per day (bpd) to 1.2 million bpd – a 30-year low – at the peak of the attacks.

The attacks led to the declaration of forces majeures on exports of Nigerian crude oil grades, including Bonny Light, Forcados, Brass River, and Qua Iboe, by oil majors such as Shell and Exxon Mobil. As Nigeria's oil revenue declined, amid low oil prices, the economy slipped into its first recession in 25 years.  

Kachikwu said the government has continued to engage with the militants and the Niger Delta communities to achieve a lasting peace agreement.

“It is a difficult undertaking to try to embark on trying to resolve it once and for all, but we’re very bullish about this,” the minister said.

At a town-hall meeting in Port Harcourt, Rivers State, on Monday, Acting President Yemi Osinbajo revealed that the federal government is keen to continue interactions on the amnesty programme for ex-militants.