Business FG Confirms Discovery of Crude Oil in Borno

[kemi]

The federal government yesterday confirmed the discovery of crude oil in Borno State, North East Nigeria, thus raising the hope of the region joining the league of oil producing areas in the not-too-distant time.



The disclosure was made by the permanent secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, when she presented her welcome address at the presentation of the 2016 petroleum sector scorecard held at the auditorium of the Petroleum Technology Development Fund (PDF) in Abuja yesterday.

She brandished the discovery of crude oil in Borno State as one of the achievements of the ministry during the year, saying, “Our doggedness culminated in the discovery of oil in new frontiers – Lagos and Borno.”

Shua’ra listed other achievements of the ministry: “Today, as a team, we have recorded commendable achievements in our sector: the introduction of the PMS Price Modulation Matrix; the availability of PMS in all outlets; eradication of payment on fuel subsidies; located foreign direct investment to finance midstream oil and gas infrastructure; adopted exit strategies on Joint Venture Cash Call; robust engagement of host communities to reduce agitations; creation of more stable industrial relations,” she said.

 

[curator]

Every state in Nigeria has oil. The key question is it commercially viable to extract?

I will also be interested to know how much money is currently being spent by the government on the oil discovery exercise in northern Nigeria.

 

[Wakanda]

Every state in Nigeria has oil. The key question is it commercially viable to extract?

I will also be interested to know how much money is currently being spent by the government on the oil discovery exercise in northern Nigeria.

Should we be happy about this, good for the north but with the presence of the Boko haram sect, I am not sure this is very good news.

 

[curator]

Should we be happy about this, good for the north but with the presence of the Boko haram sect, I am not sure this is very good news.

I don't think it is really a north/south issue. The lack of transparency should concern all Nigerians. If we are talking about diversification of the Nigerian economy and we are spending billions looking for non-commercially viable oil reserves, then it is certainly a dangerous game being played. If the singular purpose of government is to find oil in the north, there is a problem.

If this is a viable project, then we are all better for it.

 

[Ekwere]

Instead of using the money to develop Bayelsa in order to explore more freedom to drill there, Buhari tricky divert the same money to explore borno state so Bayelsa oil money will be shared with Borno state with Boko Haram.
I really wander who will be mobilsed from Bayelsa to go to Borno state to start oil exploration with the Boko Haram that they initiated to take over government from Jonathan from the oil rich Bayelsa land.
I am considering that to be waste of resources by the federal government which will not be of any benefit to Nigeria

 

[airstar]

There is nothing special about the news. This isn't making any difference coz even the ones discovered in other parts of the country can't be accounted for judiciously.