loreee1:
Kachikwu, who is to be sworn in to
President Muhammadu Buhari’s cabinet on
Wednesday and is widely expected to
become junior oil minister, also said the
Nigerian National Petroleum Corporation
(NNPC) is projecting revenues of $20
billion in 2016.
Chad Basin
Africa’s biggest economy has been
hammered by the sharp drop in global oil
prices, because it relies on crude exports
for around 70 percent of government
revenues.
Nigerian army chief, general Azubuike
Ihejirika named as sponsor of Boko Haram
terrorist organisation
“There are signs from the latest 3D seismic
studies that oil may be very close to being
found now in Lake Chad,” Kachikwu was
quoted as saying in a statement issued by
NNPC spokesman Ohi Alegbe.
Related: NewsRescue-Boko Haram, Big
Oil And The Chad Connection – By Dr.
Peregrino Brimah
“I am optimistic that by the end of the year
we should be able to announce something
major on this,” he said in a presentation in
Lagos, according to the statement.
Kachikwu was quoted as saying it would
be important to pass the long-delayed
Petroleum Industry Bill aimed at
overhauling the oil sector, and to
encourage investment in the country’s oil
and gas industry.
“Kachikwu stated that the NNPC is
projecting the inflow of $20bn in 2016 to
enable the corporation to fund major
projects,” said NNPC spokesman Alegbe.
Portfolios have yet to be assigned to the 36
cabinet members chosen by Buhari, but
analysts expect Kachikwu to report to the
president, who will personally oversee the
petroleum portfolio.
PMN

actoor:

divinehand2003:
Goldmine indeed.
THIS IS JUST ANOTHER SOURCE OF INCOME FOR ALL THE LOOTERS, WARLORDS, MILITANTS, ISLAMISTS, CORRUPT AND RAPIST OF THE NIGERIAN ECONOMY.
TOO BAD DEAR FELLOW NIGERIAN MASSES, YOU ARE NOT INVITED!!!!!!

VonBismark:
Finally can biafra now go? Or is the british going to jump in and secure their business while the so called nigerian citizens leak their shoes in the name of one nigeria?

naijapips02:
the time will come when oil will be selling like pure water in Africa. They some people would know that arable lands are a blessing.

Exactly, which is why the North must not abandon agriculture even as it exploits it's oil resources.

With agriculture, solid minerals, and now oil (to be readily exploited thanks to Arewa's return to political leadership); we'll see who the real parasites are .