Bauchi, Gombe Oil Blocks, an economic breakthrough – Muhammed

Asma'u Halilu, Kaduna

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The Director, Media and Publicity of the Bola Ahmed Tinubu Presidential Support Committee (PSC), Kailani Muhamad has said that the discovery of oil blocks in other parts of the country is a national economic breakthrough.
Speaking at a press conference in Kaduna, Mr Muhammed disclosed that the newly discovered oil blocks in Bauchi and Gombe will be developed by the Nigeria National Petroleum Company Limited (NNPCL).

 

While Analysing the gains of the oil wells, he explained that with an estimated 1 billion barrels of crude oil reserve from the new northern oil wells, Nigeria is expected to gain nearly $73 billion or N32.3 trillion at an average global crude oil price of $73 per barrel benchmark that can be used to fund the 2023 budget.

He also explained that the oil blocks will be jointly managed by the Sterling Global Oil and New Nigeria Development Commission (NNDC) alongside the NNPC Limited.
Also, Muhammed said that one of the wells at Kolmani in the upper Benue trough has a reservoir of 1 billion barrels of crude oil, while the other has a reservoir of 500 million cubic feet of gas.

 

He also criticised some Nigerians who consider the oil discovery and exploration in these communities as a political stunt.
“I have said it severally and I will say it yet again, our so called elites have always been leaning towards heating up the polity in order to achieve selfish ends. We are happy that President Buhari has broken the jinx of Oil and Gas economy politics by dragging the net around the country in his efforts to beef up the nation’s treasury trajectory.
“Apart from the Gombe, Bauchi discovery, there are other locations in the Northern part of the country with large deposits of hydrocarbon. All these deposits will generally impact on the Nigerian economy,” he stressed.
“The oil and gas discovered in Gombe and Bauchi cannot be consumed by the indigenes of the two states alone, but for the benefit of the entire nation”, Kailani explained.
Muhammed who also doubles as the Chief Executive Officer, Network for Election Education, Sensitisation and awareness, appealed to President Buhari to ensure that explorations in the new locations begin before the end of his tenure in 2023.
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