Minister of state for petroleum   Emmanuel Kachikwu during a Bloomberg Television interview from Rome, predicted that the price of crude oil currently floating around $55 since December will sooner or later increase by $10  due to OPEC measures to curb  insider dealing.

He also said over the next few months the effect of the measures adopted by OPEC will get us to where we want to be which is between $60s. He added that military attacks on petroleum production led to Nigeria been exempted from recent cuts, but OPEC would ask Nigeria to contribute once we are able to produce 1.8m barrels per day.