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Crude Oil Discovered in Borno

BellaNaija.com

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Minister of State for Petroleum Resources, Ibe Kachikwu

Minister of State for Petroleum Resources, Ibe Kachikwu

Nigeria has discovered huge crude oil concentration in Borno State, North-East, raising the hope of the region joining the league of oil producers.

The Permanent Secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, broke the news on Thursday at the presentation of the 2016 petroleum sector scorecard in Abuja.

She said that the discovery of crude oil in Borno State was one of the achievements of the ministry during the year.

“Our doggedness culminated in the discovery of oil in new frontiers – Lagos and Borno,” Leadership reported on Friday.

She also listed the introduction of the petrol Price Modulation Matrix as another achievement of the ministry.

Other achievements are the all round availability of petrol in all outlets; eradication of payment on fuel subsidies; and located foreign direct investment to finance midstream oil and gas infrastructure.

The adopted exit strategies on Joint Venture Cash Call; robust engagement of host communities to reduce agitations; and creation of more stable industrial relations,” she said were other achievements.

Vice President Yemi Osinbajo, who presided over the ceremony, stated that the deregulation of the downstream sector, which led to the elimination of petroleum subsidy, saved the government a burden of N15.4 billion monthly.

The vice president was represented by the attorney-general and minister of justice, Abubakar Malami.

He stated that the oil and gas sector remain very critical to the stability and growth of the nation’s economy as it accounts for about 90 per cent of the country’s earnings, in addition to contributing substantially to the inflow of foreign exchange and growth of foreign reserves.

Prof. Osinbajo further disclosed that the Federal Executive Council (FEC) had recently approved new measures and strategies aimed at eliminating the burden of Joint Venture Cash Call arrears and easing future payments in the up-stream sector, stressing that the strategies are fully supported by the National Economic Council (NEC).

 

18 Comments

  1. esther

    December 16, 2016 at 1:08 pm

    At least its a good news coming from borno state.

  2. Ivy Nils

    December 16, 2016 at 1:12 pm

    GREAT NEWS!!!!! I HOPE WITH THIS DEVELOPMENT THE SHARIA NATION CAN LET GO OF THE NIGER DELTA REPULIC… WE HAVE NOTHING IN COMMON WITH THEM, BUHARI CAN FULLY CONCENTRATE ON HIS 97%… FREE AT LAST.

    • fleur

      December 16, 2016 at 4:53 pm

      Sorry Borno state. Now Boko Haram will grow bigger and your lives will change forever for worse.

  3. Charles

    December 16, 2016 at 1:31 pm

    Thank God,what a perfect timing…now the FG can go ahead and leave the Niger Delta people alone,concentrate on Bornu and Lagos since the deposits are huge,move the environmental degradation and pollution to new frontiers, Enjoy every bit of your new find.

  4. LL

    December 16, 2016 at 1:50 pm

    “She said that the discovery of crude oil in Borno State was one of the achievements of the ministry during the year.”

    Something that we indigenes of Borno have known for years. Please Madam, keep up with the news. This was one of Senator Ali Sheriff’s election pre-election promise or before he got in as governor, Oil exploration in the Chad basin, well over 150years ago…achievements of the ministry indeed! Smh!

  5. Deb

    December 16, 2016 at 1:56 pm

    Crude had always been discovered there since the days of abacha. I hope the oil wells there gets to people in the south too. BH was part of the tool to scare people away from that region so that the oil can be controlled by a selected few. Watch how things turn out

    • nene

      December 16, 2016 at 9:09 pm

      you get it!

    • Simi

      December 17, 2016 at 6:55 am

      Thank you oh. Those who know know. This is always what BH was about.

      Make we dey look.

  6. James

    December 16, 2016 at 2:18 pm

    I will only believe it when I see it being dug out of the ground.

    It could just be a ruse to add Borno to the list of oil producing states, which means more money going to the North. Don’t believe anything you hear from this government until you can verify.

    • A Real Nigerian

      December 16, 2016 at 2:28 pm

      If more money is going to a state that has a refugee crisis and major security problems, how is that a bad thing?
      Why do we have to bring everything down to ethnic North-South nonsense?

    • Ijebujesha

      December 17, 2016 at 12:20 am

      You are smart and you are right. Top players in the oil sector will tell you oil will never be found there. These guys can lie for the entire sub-sahara Africa and they have a very gullible population to feed the lies to.

  7. tunmi

    December 16, 2016 at 2:52 pm

    Poor Borno. With everything they have been through, this sounds good. I am happy for them and I worry about their water at the same time

  8. Hey

    December 16, 2016 at 3:02 pm

    How and when did they carry out the exploration in the midst of unrest?

  9. weezy

    December 16, 2016 at 6:32 pm

    Just wait, northerners will now join the people calling for the restructuring of Nigeria.

  10. Idomagirl

    December 16, 2016 at 6:48 pm

    Maybe we can now begin to restructure and re-arrange this contraption we call a country.

  11. nene

    December 16, 2016 at 9:08 pm

    great news for them! maybe they’ll finally break up nigeria. if the north had oil that the niger delta has, there would be nothing like nigeria today.

  12. nnenne

    December 17, 2016 at 12:08 am

    Good news

    Finally Nigeria will be restructured into regions.
    Let everyone enjoy the pollution.
    Hope 90% of ownership of the fields will be given to the south south and south east!.
    The world will be a better place if we all trade places with each other once in a while.
    At least every Nigerian will finally understand the meaning of marginalization.

  13. Ijebujesha

    December 17, 2016 at 12:22 am

    If you believe this, you probably believed all those crap about Buhari borrowing money to pay for Presidential ticket and drinking sachet milo without milk and his daughter marrying an Igbo man. In short, you can believe just about anything.

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