Some players in the Nigerian oil and gas industry as well as analysts have lauded the move by President Muhammadu Buhari to personally supervise, for the second time since his current administration, the ongoing oil drilling in the north-eastern states of Bauchi and Gombe.
He is also expected to carry out the drilling supervision with the support of the Minister of State for Petroleum, Chief Timipre Sylva and the Group Chief Executive Officer of the NNPC, Mallam Mele Kyari, among other government and NNPC officials. They said the president’s billed supervision of the drilling campaign tomorrow as he did in 2019, was indicative of his walking the talk having signed the landmark Petroleum Industry Act into law in 2021, which provided for the Frontier Exploration Fund to enable NNPC aggressively go in search of more oil to boost the nation’s oil and gas reserves.
“So, with this move by the president, investors in Nigeria and abroad will now know that we are serious about adding value to what we have. But I hope the discoveries will be real and not political because that has been one of the issues around that oil exploration in the north.” The minister had noted that a lot of oil was yet to be found in the country, adding that there was a need for more exploration in the country as more oil would be discovered.
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