President Muhammadu Buhari yesterday disclosed that his administration has plans to extend oil and gas exploration into new fields in the Lake Chad Basin in the North East and in the coastal states, like Lagos, where oil has been discovered in commercial quantity.
The president was represented by Vice President Yemi Osinbajo, who disclosed part of strategies to reposition the Nigerian oil and gas industry, his government had commenced the process of implementing carefully conceived initiatives which would see the country hitting a production target of 2.8 million barrels per day (bpd) of crude oil.
The president made these disclosures yesterday while declaring open the 6th African Petroleum Congress and Exhibition (CAPE VI) being hosted in Abuja.
The measures, he explained, would come in the form of reduction in production costs and increased efficiency in oil exploration so as to achieve a 30 per cent increase in daily production. Click to signup for FREE news updates, latest information and hottest gists everyday
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Please God let them find that cursed oil so the can happily request to leave nigeria and the rest of us can begin to prosper without any hindrance and enabling us the rely much less on oil and reward merit. We pray in the name of God to save us from this backward thinkers who seek oil in these times of alternative energy and dirt cheap oil
ReplyDeleteSpending a whoping sum of #50billion to search for oil in the northeast is the best way to diversify our monoproduct economy from oil dependence. This people know nothing about economy. This is pure misplaced priority. May God deliver us from the hands of these people called leaders with no direction.
ReplyDeleteHave they all forgotten dat dey have promised to diversify due economy? Is dis how to diversify? Hnmmm we are watching
ReplyDelete