NNPC Plans to Restart Oil Exploration in Borno State After Governor's Promises
- NNPC Limited said it was ready to revive oil exploration in Borno State after operations were halted for over two years.
- Governor Babagana Zulum told the company that soldiers, police officers and Civilian JTF members were on the ground to protect exploration sites.
- Zulum raised concerns about gas supply cuts and idle equipment at the sites, saying both issues needed to be resolved before operations resumed.
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism and deep knowledge of the Nigerian economy, stocks, and broader market trends.
Nigeria's state oil company, NNPC Limited, has said it is prepared to resume oil exploration in Borno State, following a meeting with Governor Babagana Zulum in which the governor pledged full government backing for the operations.
The meeting took place on Wednesday at Government House in Maiduguri.
NNPC's Non-Executive Chairman, Ahmadu Musa Kida, led the delegation, while Group Chief Executive Officer Bashir Olujari confirmed the company's intention to work alongside the state government and local communities in the affected areas.
Source: UGC
The proposed operations cover an oil basin spread across seven local government areas in the state. The discussions also touched on a planned solar power project aimed at supporting development in the region, Leadership reports.
Other members of the NNPC delegation included Executive Vice President, Upstream, Udy Ntia, and Executive Vice President, Gas, Power and New Energy, Olalekon Ogunleye.
Zulum's conditions for resumption
The governor pushed back on any suggestion that security was the reason exploration stopped, saying troops, police officers and members of the Civilian Joint Task Force had already been deployed to guard the sites and equipment, BusinessDay reports.
However, Zulum used the meeting to raise two outstanding issues he wants resolved before full operations begin again. He called on NNPC to honour an earlier commitment to supply gas for the project, saying the withdrawal of that supply was a key factor in the suspension of activities.
He also flagged the state of equipment that has sat unused at the exploration sites for more than two years, arguing that upgrading those facilities would be necessary before any return to work.
Source: Facebook
On the solar energy component, Zulum expressed support for expanding the number of plants, saying more installations would help shield residents from the impact of rising fuel costs.
NNPC did not give a specific date for when exploration would resume.
Delta, Bayelsa, Akwa Ibom share 75% of Nigeria’s oil money
Earlier, Legit.ng reported that Delta, Bayelsa and Akwa Ibom accounted for almost three-quarters of the N321.90bn shared among Nigeria’s oil-producing states as derivation revenue in the first quarter of 2026.
Data analysed by BudgIT Nigeria, based on figures from the National Bureau of Statistics and the Federation Account Allocation Committee, showed that 11 states received payments under the 13 per cent derivation arrangement between January and March 2026.
Delta State topped the list with N101.60bn, while Bayelsa and Akwa Ibom followed with N71.64bn and N69.39bn, respectively.
Together, the three states received approximately 75 per cent of the total derivation revenue distributed during the quarter, highlighting the significant advantage enjoyed by states with substantial crude oil production.
Source: Legit.ng
