Business
NNPC Intensifies Oil Search In Gongola, Other Inland Basins
The Nigerian National Petroleum Corporation (NNPC) has embarked on a more rigorous exploration for oil in the Gongola and other inland basin using the latest seismic data gathering technology .
A statement by NNPC’s Group General Manager,Group Public Affairs Division, Garba Deen Muhammad, made this known in Abuja on Saturday
The NNPC Group Managing Director, Dr Maikanti Baru, the statement said, made the disclosure when he paid separate visits to the governors of Bauchi and Gombe States.
Baru said that the latest technology was similar to the ones used by neighbouring countries to discover oil in their countries..
He said the exploration was in strict compliance to President MuhammaduBuhari’s mandate.
NNPC, he said, had therefore commenced activities in the Gongola Basin by awarding the contract for seismic data acquisition of over 500KM2 3D seismic data in the first instance.
“NNPC is deploying state of the art technology in the present data acquisition and we are confident that these efforts will lead to clearer definition of the prospectively of the basin.”
He said that the contractors awarded the contract for the seismic data acquisition in the Gongola Basin, was Integrated Data Service Limited (IDSL).
Baru said the contractor was a subsidiary of the NNPC and Bureau for Geophysical Prospecting, a subsidiary of Chinese National Petroleum Corporation (BGP/CNPC) were mobilising to commence the project.
The GMD said that the seismic data acquisition activities and exploration well drillings would provide employment opportunities for the youths.
Baru said the multiplier effect of the envisaged employment would contribute to the economic empowerment of the surrounding communities and the nation at large.
He said that NNPC was in the process of awarding the Environmental Baseline Studies (EBS) and Environmental Impact Assessment (EIA) to Abubakar Tafawa Balewa University, Bauchi and Modibbo Adama University of Technology, Yola.
In their separate remarks, the governors of Bauchi an Gombe, Mohammad Abubakar and Ibrahim Dankwambo applauded the president for the pragmatic move to rigorously commence exploratory activities in the area.
They both stressed that the move would further grow the nation’s oil and gas reserves.
“I want to assure you of the unflinching support of Bauchi State and its good people towards this project.
“We are ready to provide offices and accommodation for all NNPC staff that will work on this project,” Abubakar said.
“Already, we have assigned two ministries that will work with your team on this laudable project.
“ I will work with my colleague Governors in the North- East to galvanize support from our people towards this project,” Dankwambo said.
Dankwambo also called on the media to support this renewed oil search in the area.
Giving their royal endorsements, the Emirs of Bauchi and Gombe reassured the Federal Government of their readiness to support the project, mobilise their subjects against interrupting the smooth operation of the exploratory activities in their domains.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
