More oil was discovered in the North!
Since it was first discovered in Nigeria, the majority of the oil and gas drilling in the country has been done in the southern part of the country but all that might just be about to change slightly.
The gist is that oil–in commercial quantity–was discovered within the Bauchi-Gombe State boundary. This week, President Muhammadu Buhari flagged off the drilling process which is going to be the first in Northern Nigeria. The president also made it public that 500 billion cubic feet of gas was also discovered in the same region.
The field where the drilling will be done will be managed and developed by 3 companies, The NNPC, the NNDC (New Nigeria Development Commission), and Sterling Global Oil. This is the first time Nigeria will be producing crude outside the Niger Delta region.
According to NNPC, the first phase of the Kolmani projects in the northeast would have an oil refinery, gas processing unit, 300-megawatt power plant, and fertilizer plant producing 2,500 tonnes a day. The NNPC also stated that this discovery of oil in the North will attract foreign investment, generate employment for people to earn income, and increase government revenues.
The president of Nigeria, Gen. Muhammadu Buhari, speaking at the flag-off of the drilling stated that the discovery had emanated from their charge to the NNPC to re-strategize and expand its oil and gas exploration footprints to the frontier basins of Anambra, Dahomey, Sokoto, Benue trough, Chad and Bida Basins.
The president also stated that the project is a fully integrated in-situ development project comprising upstream production, oil refining, power generation, and fertilizer and as such the project promises many great benefits for the nation. The great benefits include but are not limited to energy Security, financial Security, food security as well as overall socio-economic development for the country.
#STATEAFFAIRS is a segment that gives you a quick rundown of various political and state issues as they happen in the most simple, subtle language. In this edition, we are looking at oil drilling in Northern Nigeria.
