In March, the Sultanate of Oman announced that the country had slated the revenue from soaring oil prices to reduce its public debt and support spending on government projects.
The new target is 19,000bpd higher than the approved quota for May 2022.
The governor said the state failed over the years to explore and benefit from its “God-given natural endowment.”
The minister said he had extracted a commitment from multinational oil firms to relocate their operational headquarters to the Niger Delta region.
The NAFDAC boss said the destruction of the products was in line with the agency’s strategies aimed at eradicating the reintroduction of the fake drugs.
Shell has been beset by myriads of challenges ranging from oil theft to pipeline sabotage, as well as agitations by local communities over oil spills.
DPR emphasised it would not hesitate to apply appropriate sanctions on any depot found wanting in this regard.
Buyers, using other currencies must pay more for dollar-denominated oil when the currency rises.
The proposal is benchmarked against $40/barrel crude price and N379 per dollar exchange rate.
