Amidst War, NNPC Set To Return To Lake Chad In Search For Oil

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By ‘Dotun Akintomide

In spite of Boko Haram’s renewed hostilities in the North-east, the Nigerian National Petroleum Corporation (NNPC) remains resolute in its search for black gold in this beleaguered region as plans are underway for it to return to the Lake Chad Basin in Borno State soon.

The Group Managing Director of NNPC, Dr. Maikanti Baru, made the disclosure Wednesday, while speaking at the 39th edition of the Kaduna International Trade Fair.

Baru said that with the release of the staff of the corporation who were abducted while exploring for oil in the area, it will return “with full force” to continue with exploration activities.

President Muhammadu Buhari hosting the recently released UNIMAID lecturers who were kidnapped last June by Boko Haram

 

Recall, in June 2017, some lecturers of the University of Maiduguri (UNIMAID) who were contracted by NNPC, were abducted by the Boko Haram terrorist group. They did not regain their freedom till recently, following negotiations with the terrorists.
Only yesterday (Friday), UN backed medical charity, Medecins Sans Frontieres (MSF) suspended its work in the town of Rann in Borno State and evacuated 22 of its national and international staff after the terrorists’ group, Boko Haram attacked a military barrack, killing four of its aid workers late Thursday.
But it appears not even the recent spate of insurgents’ attacks in the North-East will make the federal government quash its oil prospecting plans in the region.
Baru in his words said: “We thank the president (Muhammadu Buhari) for rescuing some of our lecturers that were involved in exploration in the region. We are going back to the Chad Basin with full force.”
The NNPC GMD further disclosed that the corporation has also intensified exploration activities in the Benue trough, adding that Nasarawa, Niger and Sokoto States have also been marked down for its exploration plans.

Although Baru admitted that with the diversification of the nation’s economy, the feat achieved decades ago in mining, agriculture and commerce which sustained the economy of each region of the country can be replicated if the country’s productive sector is being re-channeled, but the sheer determination by the current administration to continue with oil exploration in the North is often seen by many as an anti-policy to the much-touthed economic diversification plans.

The Oil and Gas industry having become the main stay of the Nigerian economy, providing 95 per cent of the nation’s foreign exchange earnings, Baru pointed out that the major challenge in the country’s mono-culture economy is that it exposes the nation to the vagaries of oil price volatility, which during a period of glut could spell doom for the country.

“To demonstrate our commitment, the NNPC has set up the Renewable Energy Division that is focused in not only developing solar and other renewable energy sources but also in the development of biofuels that are heavily dependent on agricultural produce as feedstock.

“The multiplier effect in such ventures are enormous: reviving and revitalising our agricultural sector, huge employment generation, significant contributions to power generation, high volume of animal feed, starch and by-products, in addition, biofuels will be blended at our refineries for petroleum products, which will significantly reduce the import of petroleum products into the country,” he noted.

On the fuel prices that persisted for months, he said the NNPC had taken steps to ensure that the hiccups witnessed recently in the distribution of petroleum products are overcome.

He listed some of the steps taken to include the full deployment and activation of a 24-hour real time fuel war room for the effective monitoring of fuel supply and distribution dynamics across the country; sustenance of 24 hours loading and sales operations in all depots and mega stations. He also hinted that the corporation is collaborating and sharing information with the oil industry regulators and other agencies in the ministry of petroleum resources.

Dotun Akintomide
Dotun Akintomide
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

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