Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


FG budgeted $100 million for oil search

03 February 2013, 08:27

Maiduguri - The Federal Government budgeted 100 million dollars for oil search in the Lake Chad Basin this year, Vice President Namadi Sambo said on Saturday.

Sambo stated this during a visit to the Shehu of Borno, Alhaji Aubakar Ibn Garbai, in Maiduguri.

He said the action was aimed at preparing ground for the commencement of full commercial oil exploration in the basin.

"I want to inform you that government is committed to the oil and gas search in the Lake Chad basin.

"Last year about 75 million dollars was spent on the project and this year President Goodluck Jonathan has approved 100 million dollars for the project," he said.

Sambo added that three blocks have been identified in the area after a series of research for further action.

"So far, we have identified three blocks one of which is located in Maiduguri.

"These blocks have great potentials for oil and gas exploration," he said.

Sambo said that government believed that commercial oil exploration would begin in the area at the beginning of 2014.

"Our plan is that by the fourth quarter of 2013, or first quarter of 2014, commercial oil and gas exploration will commence in the basin," he said.

Sambo said that government was also working towards rejuvenating the Lake Chad, to reactivate agricultural activities in the area.

"We are working on plans to rejuvenate the Lake Chad through an inter-basin water transfer from Congo Democratic Republic.

"President Goodluck Jonathan has approved the release of five million dollars for the consultancy work on the project," he said.

Earlier in his speech, Ibn Garbai appealed to the Federal Government to hasten oil exploration activities in the Lake Chad basin.

"I want to appeal to government to pursue oil exploration in the Lake Chad basin with vigour because commercial oil exploration will provide jobs for our teeming unemployed youths.

"I believe the place contains large quantity of oil because of a similar discovery by our neighbours on the other side of the basin," he said.

Ibn Garbai also urged government to relax the current 9 p.m. to 6 a.m. curfew in the state following the improved security situation in the city.


Tags oil

Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...