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New Oil, Gas Discoveries Indicate Huge Gas Reserves In Nigeria – Expert

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An Oil and Gas Expert, Assoc. Prof. Olanrewaju Aladeitan, has lauded the new oil and gas discoveries in Nigeria, which indicate that the country has huge gas reserves.
The expert said Nigeria could be more described as a gas country than a crude oil country because it had trillions cubic feet of gas reserves.
Aladeitan, associate professor of Energy and Natural Resources, University of Abuja, made this known in an interview with the News Agency of Nigeria (NAN), Abuja on Sunday.
NAN reports that President Muhammadu Buhari had in November 2022 inaugurated the Kolmani Integrated Development Project at Kolmani River II oil field located at a border community between Bauchi and Gombe States.
The Nigerian National Petroleum Company Ltd. (NNPCL) in 2019 had announced the discovery of crude oil, gas and condensate in the Kolmani Oil Field with over one billion oil barrels reserves and 500 billion cubic feet of gas.
The NNPCL is also set to develop the first oil well in Nasarawa State in March 2023 in view of its confirmation of presence of substantial hydro carbon resources in the state.
Aladeitan said information from an insider revealed that data emerging from the Bauchi-Gombe axis showed that there was oil in commercial quantity, but with a caveat that gas could be more.
He said some of the new frontiers that were also being discovered in the country even had more gas reserves than crude oil reserves.
“Which means Nigeria’s reserve of gas is very huge.
“Somewhere around Igbariam in Anambra we have a huge gas reserve there.
“Luckily, there are new frontiers coming up, we have the Bauchi-Gombe new oil and gas discovery that is fast coming on and recently in Nasarawa and also Niger.
“By the time the efforts are taken to the Sokoto Trough, we may also find some reserves there as well,” he said.
Speaking on the perception of some people whether oil was truly found in the new locations, he said initially all the troughs had shown evidence of crude oil and gas in the past.
But he said unfortunately the technology available then may not have made it possible to follow up the discoveries.
He said though some people were skeptical about the discovery of oil in those environments, but it was not as if those areas never showed evidence of crude oil as there were traces.
According to him, the kind of technology that existed in the past could not make them explore further, but now there is advanced technology that has made it possible.
The expert further said then Shell was exploring oil and given the entire country, but realised that the Niger Delta had more concentration of oil.
This, he said made Shell to concentrate in that region, not that there had not been traces of oil in other places.
“But we are not sure that if the exploration continues, whether or not it will show that it is in commercial quantity or not.
“But I can assure you from an insider view that the data emerging from the Bauchi-Gombe axis shows that there is oil in commercial quantity, but with a caveat that what they may get more might be gas.
“So, even in the Chad Basin, there are traces of it. There are evidences. It is just like what happened with shale gas; you know that there are some unconventional sources of gas and oil that is what the shale gas is all about.
“So, in some of those unconventional sources, you use new technology and you will definitely discover.
“What I am saying in essence is that with improved technology and improved knowledge now, we can get clearer pictures of those things we could not assess or have information about in the past.
“Some people ridiculously argued that they connected oil pipelines all the way from the Niger Delta region to Benue, which is a ridiculous thing to say,” he said.
He, however, emphasised the need to cut down gas flare and take advantage of the economic potential of gas reserves in the country.

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FG Targets Production Of Locally Made Vehicles By Dec

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The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has affirmed that Nigeria now has the capacity and materials to manufacture Made-In-Nigeria cars for local use and export.
With the enabling environment being provided by the government, she said manufacturers should be held responsible if the cars are not rolling out by December 2024.
Currently, Nigeria produces less than 10 per cent of the vehicles used in the country.
Last year, Nigeria’s vehicle assembling industry, estimated to be worth around N302billion, tanked to a new low due to increasing production costs and weakened demand for locally assembled automobiles.
According to the Manufacturers CEOs Confidence Index, activities of motor vehicles and miscellaneous assembly deteriorated further below the benchmark (50 points) from 48.6 to 46.7 points.
But speaking at the Automotive Component Manufacturers meeting in Abuja, she noted that the automobile industry is faced with both challenges and opportunities.
A statement issued last Friday by the Director of Information and Public Relations, Adebayo Thomas, said, “In a significant move aimed at fostering sustainable growth and development in Nigeria’s automobile industry, the Federal Government has issued a clarion call to all stakeholders, including manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem.
“The call comes as part of a broader strategy to enhance the sector’s contribution to the nation’s economy.”
Encouraging the stakeholders to key into the Nigerian Automotive Development Policy, the Minister said, “As far as we are concerned, the auto industry is now set to go.
“We are counting on all stakeholders to make that happen. If we do not produce made-in-Nigeria cars before the end of this year (December), it will be your fault, because I am sitting down here giving you all the assurances that this administration has created the enabling environment to make sure that the auto policy kicks off.”
Anite emphasised the need for collaboration among manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem, saying by working together, they can address challenges, streamline processes, and drive innovation.
She also urged stakeholders to maintain high-quality standards across the board, including vehicle manufacturing, safety features, emissions control, and after-sales services.
Stringent adherence to quality, she said, will boost consumer confidence and attract investment.
The minister assured all that the government would continue to encourage increased investment in research and development, adding that, innovations in electric vehicles, fuel efficiency, and alternative energy sources are critical for long-term sustainability.
On local content, she also emphasised the importance of promoting local content by sourcing materials and components locally.
By doing this, she said, the sector can create jobs, reduce import dependency, and contribute to economic diversification
In his introductory comments, the ministry’s Permanent Secretary, Nura Rimi, emphasised the significance of team action and shared vision as outlined in the Nigerian Automotive Development Policy.
He also urged stakeholders that the country “will overcome obstacles and unleash the full potential of Nigeria’s automotive component sector.”
He encouraged NADDC and other stakeholders to use the chance to form alliances, explore new areas of collaboration, and devise ways to catapult the automotive components manufacturing industry to new heights of success.
The statement added, “The government’s charge underscores the pivotal role stakeholders play in shaping its trajectory. Their commitment to sustainable practices will drive Nigeria’s automotive sector towards a brighter and more prosperous future.
“Environmental Responsibility: Stakeholders are reminded of their environmental responsibilities. Sustainable practices, recycling, and eco-friendly manufacturing processes are essential for a greener future.”

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Waive Tax On Electronic Imports, Women Engineers Appeal To Tinubu

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The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on President Bola Tinubu to exempt the importation of electronic components from taxation for inventive engineers.
Chairman of APWEN, Ms Atinuke Owolabi, said this a in statement yesterday in Lagos, in commenration of the 2024 World Creativity and Innovation Day, with the theme: “Step Out and Innovate”.
The Tide source reports that World Creativity and Innovation Day is a global UN Day, celebrated on April 21, to raise awareness about the importance of creativity and innovation in problem solving.
This is with respect to advancing the United Nations’ sustainable development goals, also known as the global goal.
Owolabi explained that such a measure would significantly enhance technological progress, support local innovators, and elevate Nigeria as a leading hub for innovation globally.
She stated that in a world marked by dynamic challenges and unprecedented opportunities, creativity and innovation stand as the driving forces behind progress and transformation.
According to her, women engineers recognise the critical role that innovation plays in shaping our societies and driving sustainable development.
”On this occasion, we affirm our commitment to fostering a culture of creativity and innovation within our organisation and the broader engineering community.
”Together, let us step out, innovate, and inspire the next generation of women engineers to reach even greater heights of achievement and impact.
”We believe that by stepping out of our comfort zones and embracing new ideas, technologies, and approaches, we can unlock innovative solutions to the complex challenges facing our world today,” she said.
According to her, the theme: ‘step out and innovate’, serves as a call to action for women engineers everywhere to break barriers, challenge conventions.
She noted that it would also pioneer groundbreaking solutions that would propel them toward a brighter and more sustainable future.
Owolabi disclosed that in celebration of the World Creativity Day, APWEN Lagos had inaugurated an artificial intelligence club tailored for female engineering students and young engineers.
She said that the proactive initiative aimed to inspire and equip young engineers with cutting-edge technological insights.
Th chairman said, “Additionally, we already have a 200-capacity hall to set up a resource, technology, and innovation hub to empower women and girls in engineering.
”This endeavour serves as a catalyst for encouraging aspiring female engineers to embrace innovation and stay abreast of emerging trends in the field.
”APWEN Lagos stands united in its dedication to promoting diversity, inclusivity, and excellence in engineering.
“We encourage all female engineers to seize this opportunity to unleash their creativity, explore new frontiers, and make an indelible mark on the world.”

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Pan-Igbo Group Hails Dangote Group For Reducing Diesel Price

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A pan-Igbo group, Ndigbo Unity Forum (NUF), has commended the Chairman of the Dangote Group, Alhaji Aliko Dangote, and his management for reducing the price of diesel from N1,600 to N,1000 per litre.
The Tide’s source reports that diesel is the major fuel used by heavy duty vehicles and generating sets to transport goods as well as run industries across the country.
The President of NUF, Mr Augustine Chukwudum, told The Tide’s source in Enugu, yesterday, that Dangote’s timely response to suffering masses of Nigerians, going through hell to get a meal a day, “is highly commendable”.
According to Chukwudum, Nigerians need to appreciate the patriotism of Dangote since what he has done will go a long way in reducing prices of goods, especially food stuff which has gone out of the reach of the poor.
He called on Nigerians, who wish and pray always for the betterment of the country, to appreciate and thank God for answering their prayer through Dangote’s move.
“It is clear that if Dangote Refinery starts fully and gets all the crude oil needed from Nigeria, the prices of petrol, kerosene and diesel will further reduce.
“We commend President Bola Tinubu for being a listening President and supporting the Dangote Group on our crude oil needs.
“We appeal to Tinubu to encourage Dangote by providing the company with crude oil at a reduced rate as we have been demanding,” he said.
Chukwudum said that this move and subsequent further reduction, would bring industries in comatose back to life, jobs created for unemployed youths and reduction in crime as well.
“We call on governors of oil-producing Anambra, Imo and Abia States to bring investors, who shall build refineries in each of the states to refine thousands of barrels of crude in commercial quantities,” he said.

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