Nigeria’s 2020 budget may suffer minor setbacks as the Nigerian National Petroleum Corporation ( NNPC) says it cannot meet up with the current crude oil projections of 1.9 million barrels daily.
The Group Managing Director, Mele Kyari disclosed this in a meeting with the Senate’s Joint Committee on Petroleum Downstream and Upstream.
Mr Kyari blames these hitches on the continuous activities of pipeline vandals , smuggling of petroleum products across borders and the collapse of the country’s refinaries.
Chairman of the Senate Panel, Senator Mohammed Sabo also expresses concern over the NNPC’s Under Recoveries for 2018 and 2019.
The Senate Panel also raised serious concerns over the NNPC’s backlog in the submission of its annual budget.