The Kogi State government says it has has set machinery in motion to secure investments for commercial exploration of oil and gas deposits in the state.
The decision was the outcome of a meeting during the week between Governor Ahmed Usman Ododo, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe.
The meeting focused on how to chart ways forward for the commercial exploration of oil and gas resources in the state.
The meeting, which took place at the Ministry’s headquarters in Abuja, also discussed strategic steps to attract investment and technical support for the development of the state’s hydrocarbon deposits by taking advantage of the frontier basin exploration fund domiciled with the NUPRC.
Governor Ododo expressed the state’s readiness to collaborate with relevant federal agencies and stakeholders in harnessing its natural resources to drive economic growth through the exploration and development of the state’s oil and gas assets.
He noted that strategic steps taken by the state government including enactment of the law establishing the Oil Producing Area Development Commission and engagement with relevant agencies of the federal government and other partners are necessary to ensure that stakeholders are involved in the process of developing the state’s oil and gas resources in the best interest of the people and prospective investors.
Ododo had in October 2024 expressed commitment to providing enabling environment for investors and their investments in the exploration of petroleum resources in the state when he paid a working visit to the minister.
The governor expressed willingness of the Kogi State government to cooperate with the federal government to ensure that oil exploration in the state comes on stream in line with the commitment of President Bola Ahmed Tinubu to boost oil production in Nigeria.
On his part, the minister of state for petroleum resources (oil) Senator Heineken Lokpobiri reaffirmed the status of Kogi as an oil producing state and restated the support of the federal government towards mobilizing investments to explore oil and gas assets in Kogi State.
The Petroleum Industry Act mandates the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to explore frontier basins and deploy funds to unlock new discoveries and exploration of oil in Nigeria.
Kogi State became the first oil producing state in Northern Nigeria following the affirmation of the discovery of oil in commercial quantities by the federal government in 2022.
(vitalnewsngr.com)
