2023: Atiku Vows To Invest In Oil Exploration In Northern Nigeria
The presidential candidate of Peoples Democratic Party (PDP), Alhaji Atiku Abubakar has pledged to ensure smooth exploration of petroleum resources discovered in Bauchi and Gombe states if elected as the next of Nigeria.
He also promised to inject the required amount of money for the empowerment of a number of youth and women with a view to discouraging restiveness and other forms of anti-social behavior across the country.
Atiku disclosed this in Bauchi while addressing a crowd of supporters during the PDP Presidential Campaign Rally at Sir Abubakar Tafawa Balewa Stadium in Bauchi.
The former Vice President explained that transporting the discovered petroleum resources from the states would not be a problem as he has a plan to revive the rail lines that connect the Northeast subregion to other parts of the country.
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He appreciated the warm reception accorded him by the people of Bauchi State and the peaceful conduct of the campaign rally.
Speaking, Governor Bala Mohammed who described Bauchi as a PDP state expressed hope that all the party’s candidates would emerge victorious in the forthcoming general elections.
Earlier the PDP National Chairman Senator Iyorchia Ayu said the party’s presidential candidate has the required experience for the position of Nigerian president, adding that if voted into power, PDP would correct the ills of previous administrations.
In November 2022, President Muhammadu Buhari flagged off first crude oil drilling in Northern Nigeria.
In October 2019, the Nigerian National Petroleum Company (NNPC) Limited (formerly Nigerian National Petroleum Corporation) announced the discovery of crude oil, gas and condensate in the Kolmani River region at the border community between Bauchi and Gombe states.
The commercial quantity discovery was the first in the region after eight months of crude oil exploration on the Upper Benue Trough, Gongola Basin in the north-eastern part of the country, according to NNPC.
Section 9 of the Petroleum Industry Act signed by Buhari established Frontier Exploration Fund (FEF) with the allocation of 30 percent of profit oil and profit gas from NNPC’s upstream oil & gas contracts (production sharing, profit sharing & risk sharing contract) for the purpose.
The fund is for the development of “frontier acreages” — part of these frontier acreages include those Anambra, Dahomey, Bida, Chad and Benue trough.