More Boost for Nigeria’s Oil Production as FG Grants Approval For New Oil Project
- President Bola Ahmed Tinubu has approved all necessary regulatory licences for the Kolmani Integrated Development Projects to boost oil production between Bauchi and Gombe states
- During the groundbreaking of the Bauchi Oil and Gas Academy, Minister of State for Petroleum Resources, highlighted the President’s commitment to transforming Nigeria’s energy sector for economic growth
- The Minister and Bauchi State Governor, Bala Mohammed, also emphasised the importance of local capacity development and praised the Academy’s role in human capital advancement
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
All necessary regulatory licences for the Kolmani Integrated Development Projects have been approved by President Bola Ahmed Tinubu.
Source: Getty Images
According to the Nigerian National Petroleum Company Limited (NNPCL), oil exploration will resume at the project, which is situated between Bauchi and Gombe states.
The announcement was made during the groundbreaking ceremony for the permanent site of the Bauchi Oil and Gas Academy, Alkaleri (BOGAA), by Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil).
He stated that President Tinubu approved the issuance of all the necessary regulatory licences for the Kolmani project due to the need to activate all available oil platforms to boost production.
This was disclosed in a press statement issued by the Minister’s Special Adviser on Media and Communication, Nneamaka Okafor, on Monday.
According to the statement, the Minister explained at the flag-off ceremony that President Bola Ahmed Tinubu approved the issuance of all critical regulatory licences for the Kolmani Integrated Development Projects because of the necessity to maximise production from available oil platforms.
Lokpobiri said, “Our objective is to make every productive oil platform count towards national growth.”
He went on to highlight the President's broader plan to fully harness Nigeria's energy sector to drive economic development.
“Mr President is intentional about transforming our energy landscape into one that fuels industrial growth, creates jobs, and enhances national revenue,” he stated.
Commending Bauchi State for aligning with this national vision, the Minister said that the establishment of the Academy reflects the State’s forward-thinking approach to energy sector participation.
“With this Academy, Bauchi is making a strategic contribution to the development of the human capital needed to drive our sector forward,” he added.
The Minister also stressed the importance of local capacity in managing and sustaining the industry, considering the country's vast fossil fuel reserves.
He acknowledged the Federal Government's ongoing efforts to support technological innovation and human capital development through the Petroleum Technology Development Fund (PTDF).
“PTDF has played a critical role in ensuring that our sector is not just productive but also future-ready,” the Minister noted, expressing hope that BOGAA would establish a strong partnership with the PTDF to ensure the success and sustainability of its programmes.
Source: UGC
Senator Bala Mohammed, the Governor of Bauchi State, expressed appreciation to the Federal Government for its support and reaffirmed the State’s commitment to the Academy's success in his remarks.
“This institution will serve as a foundation for skill acquisition and innovation that will benefit not just Bauchi State, but the entire nation,” the Governor said.
FG sets new crude oil production target
Legit.ng reported that Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil) has challenged the Nigerian National Petroleum Company Limited (NNPC Ltd) to reach crude oil production target to 2.5 million barrels per day (bpd) by the end of 2025.
The latest target surpasses the 2 million bpd earlier set by President Bola Tinubu.
Lokpobiri disclosed the new target while speaking on the sidelines of the Oil Technology Conference at the Africa Energy Forum in the United States.
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Source: Legit.ng
