Business
Again, NNPCL Discovers Oil In Nasarawa communities
Nasarawa State Governor, Abdullahi Sule, has said preliminary findings by the Nigerian National Petroleum Corporation Limited (NNPCL) has revealed that there is crude oil in Agwatashi and Assakio communities in Obi Local Government Area (LGA) of the state.
The NNPCL had found oil in Keana LGA and preparations are on to commence its drilling by March.
Speaking during an interactive session with All Progressives Congress (APC) Stakeholders in Obi LGA yesterday, Governor Sule said his administration will not relent until Nasarawa State begins to enjoy the 13 percent derivation as an oil producing state.
The Governor further said the State Government would sign a Memorandum of Understanding with the NNPCL on February 18, 2023, to enable them commence the drilling of the oil in Keana LGA without any hitches.
He appealed to the APC stakeholders to re-elect him during the 2023 general election, promising to bring more dividends of democracy to the people of the state.
He also called on the stakeholders to elect all other candidates of the APC from top to bottom.
“Preliminary findings have shown that there is oil in Obi LGA. This Saturday, February 18, the NNPCL and the Nasarawa State Government will sign an MoU to drill the oil in Keana LGA.
“In 2019, when I came out to campaign and mentioned oil, a lot of people assumed it was mere politics. That time, I promised that, by the grace of God, I will use my experience that I acquired from my stay in Houston, Texas, global headquarters of the oil, to try.
“As at that time, oil was discovered only in Keana. A lot of people didn’t even know the extent of the oil discovery. The issue of oil has now become a reality. Now NNPCL will drill the first oil well in March.
“I will not rest until we finally join the league of oil producing states and we begin to enjoy the 13 percent derivation. We expect to see appreciable progress by May this year”, he stated.
The Tide’s source reports that as part of his campaign, Sule paid homage to the palaces of the Osuko of Obi, HRH Alhaji Aliyu Dangiwa Ogiri and the Emir of Azara, HRH Alh. Dr. Muhammad Kabiru Ibrahim II.
The APC stakeholders in Obi LGA vowed to mobilise support for all candidates of the party to ensure that they emerge victorious in the 2023 general election.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.