FG Approves Crude Oil Exploration in Kogi State

The Federal Government, through the Ministry of Petroleum Resources, has approved support for Kogi State’s request to commence crude oil exploration.

Heineken Lokpobiri, the Minister of State for Petroleum Resources, welcomed Kogi State’s governor during a courtesy visit to his office in Abuja on Thursday. Lokpobiri noted that, as a key central state, Kogi will receive the necessary backing through the Frontier Exploration Fund to initiate exploration projects.

Lokpobiri highlighted that tapping into Nigeria’s oil and gas reserves is among the most effective paths to alleviating the country’s current economic challenges.

“I want to say that the Ministry of Petroleum Resources will partner with Kogi State Government so that we can use the Frontier Exploration Fund to do the exploration that is needed and I can assure you that we will not relent until we achieve that.

“The reason is that the easiest way we can come out of economic problems in the country is through the oil and gas sector and we have it in abundance in Nigeria, including in Kogi. What we need to do is make the right investment so that we can extract this God-given deposit, and God-given resources to the market for sale.

“The thing about oil and gas is that you must bring it out from the ground to the market before it has value. And for you to bring it out from the ground, you need to make the right investments and the investments are already coming.

“And once we find oil in good commercial quantity, Kogi can now have their own and then partner with operators or trade them for the benefit of the people of Kogi. There’s no state like Kogi in Nigeria if we talk about the geography of the country. And so once Kogi is better, it will have an equal effect on all parts of the country,” he said.

According to Lokpobiri, it has become necessary for Nigeria to increase its oil production as the world moves towards the abandonment of fossil fuels.

He noted that oil production in Nigeria, during the COVID era, without new investment was about 2.4 million barrels per day, adding that there was an urgent need to address concerns currently affecting crude oil production in the country.

The minister who disclosed plans to carry out exploration activities in other parts of the country, said that Nigeria, in past years has not done so much in terms of exploration, leading to no growth in the nation’s oil reserves.

“Our reserves are about 37 billion barrels, our reserves should be times two of that. The reason is that all our neighbors that didn’t have oil, when our reserves were still 30-something, have found oil.

“Our reserves are about 37 billion barrels, our reserves should be times two of that. The reason is that all our neighbors that didn’t have oil, when our reserves were still 30-something, have found oil.

Earlier in his remarks, Ahmed Ododo, the governor of Kogi State commended the minister for the work done so far to boost production in the country. He solicited the support of the ministry to harness the potential and natural resources in the state, which he said has remained untapped over the years