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Ogoni oil shutdown costs Nigeria $226.7bn in 33 years — PINL report
PINL says Nigeria lost $226.7bn after 96 oil wells in Ogoniland were shut for 33 years over unrest and environmental concerns.
Pipeline Infrastructure Nigeria Limited says Nigeria has lost about $226.734 billion in revenue due to the 33-year suspension of crude oil production in Ogoniland.
The company linked the loss to halted operations across 96 oil wells in the area, noting that restarting production remains a key national priority but must be handled with strong community participation and environmental safeguards.
Ogoniland, located within Oil Mining Lease (OML) 11, is estimated to have the capacity to produce more than 500,000 barrels per day, but oil activities were stopped in 1993 following unrest and environmental issues.
At a stakeholders’ meeting in Port Harcourt, PINL official Akpos Mezeh said the financial loss highlights the long-term impact of the shutdown.
“Available data shows that over $226.734 billion has been lost due to the suspension of crude oil production from 96 oil wells in Ogoniland. This underscores both the cost of inaction and the opportunity ahead,” he said.
PINL called for a structured resumption plan involving host communities, environmental cleanup, security collaboration, and economic empowerment initiatives.
“We stand ready to support this process with our experience in stakeholder engagement and infrastructure protection to ensure a peaceful and sustainable resumption,” Mezeh stated.
The company said a successful restart could improve Nigeria’s production capacity, increase revenue, and support broader economic growth.
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