A Review of the Nigerian Energy Industry

Nigeria to grow crude oil reserves to 40bn barrels

Andrew-Yakubu-114 July 2014, Uyo – The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, yesterday disclosed that Nigeria was working to accumulate 40 billion barrels of crude oil reserves and produce four million barrels per day.

Yakubu, who spoke at the ongoing media workshop for energy editors and correspondents in Uyo, the Akwa Ibom State capital, said: “Ahead of this, there is an aggressive exploration campaign in offshore, onshore and the inland basins of Chad, Anambra, Benue, Bida and Sokoto Dahomey.”

“We are also carrying out infield developments which have resulted in increased reserve and with the intensified approach, including the expedited action on new projects like Egina, the reserve and production targets is realizable.”

Yakubu said over 1,000 square kilometres of seismic data had been acquired in the Chad Basin in spite of the security situation in Borno State.

Yakubu said revamping of the corporation’s critical downstream facilities such as the refineries, depots, pipelines and jetties had remained the focus of the management.

He added that over 500,000 barrels of oil per day were potentially at risk due to incessant vandalism of four main crude export pipelines in the country.

Jigawa Airport Begins Commercial Flight Operations – Dele Ogbodo

History will be made today in Dutse, the Jigawa State capital, as Governor Sule Lamido will be on hand to welcome the first commercial flight to the state, through the state-owned international airport.

The airport was built within on year at the cost of over N11billion.

It was learnt that Overland Airlines would make the first flight to the local airport later in the day because of the closure of the Nnamdi Azikiwe International Airport, Abuja at the weekend.

Speaking with THISDAY on telephone yesterday in Abuja, the Chief Executive Officer of the main contractor who handled the construction of the airport, El-Mansur Atelier, Mr. Tunde Oyekola, said the understanding and financial commitment of Lamido contributed immensely to the timely delivery of the project.

He said other state governments should emulate Lamido’s example in project implementation.

While inspecting works at the airport in January, the immediate Minister of Aviation, Ms. Stella Oduah, expressed satisfaction at the quality and standard of work, which was almost at completion stage.

She noted that the opening of the airport would make the state agro-processing hub, adding that the aerotropolis project of the government was to create jobs for Nigerians.

The supervising Minister, Mr. Samuel Ortom, did not respond to enquiries on whether, the federal government would be represented at the occasion.


– This Day

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