How Factual Is The Claim That NAPIMS Saved $5 Billion in Production Cost?
A recent forensic analysis on the claim by the National Petroleum Investment Management Services (NAPIMS) regarding $5billion savings on the cost of production, has proven bogus and unverifiable. The claim further calls for scrutiny accrued revenue to the Federation in the same period. In August 2017, NAPIMS raised the hope of stakeholders in the oil sector amidst the oil price volatility stating the agency had driven down the cost of oil production from $78 per barrel to $23 per barrel, representing a 70.5 per cent drop in production cost. It also reported that during this period, the organization saved the country $3 to $5 billion dollars in cost of production
