President Muhammadu Buhari on Tuesday flagged-off oil exploration activities in Nasarawa State by the Nigerian National Petroleum Company Ltd.
The spud-in at the Ebenyi-A exploration well located in the Middle Benue Trough in the state “will lead to greater prosperity for all Nigerians and enhance overall energy security for the country,” President Muhammad Buhari said.
The Nigerian National Petroleum Company Ltd. said in November that oil has been found in commercial quantities in the Kolmani River oil and gas field in Nasarawa state and it would start drilling the first oil well in the field in March.
Nasarawa state is in one of Nigeria’s inland basins where exploratory work is being conducted by the NNPC to boost the country’s oil production and increase its reserves.
President Buhari in his virtual message on the spud-in of the Ebenyi-A well, said the surrounding communities would particularly benefit from the value created by the exploration and eventual production activities.
President Buhari listed Chad, Dahomey, Sokoto and Bida Basins and Anambra Platform, the Calabar Embankment, and Benue Trough as well as the Ultra-Deepwater Niger Delta as areas where the NNPC is extending its crude oil exploration.
Crude oil exports account for over 90% of Nigeria foreign exchange earnings and 70% of government revenue, according to the International Monetary Fund.
