Oil discovery in Gongola Basin would reduce poverty, restlessness in Northern Nigeria – Kyari

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kyari has outlined possible ways the Nigeria economy in general and the oil and gas Industry in particular could reap from the recent discovery of hydrocarbon deposits in the Kolmani River II well in the Upper Gongola Basin section of Benue Trough.

Speaking at the recently concluded 9th Edition of the Practical Nigerian Content Summit in Yenegoa, Bayelsa State, Mallam Kyari affirmed that “between the discovery of hydrocarbon in the Gongola basin and bringing the oil to the market, a lot of processes would be triggered which would snowball into a labyrinth of productive activities with the potential for massive job creation across the value chain.

The GMD who was represented at the event by Mr. Farouk Sai’d, Chief Operating Officer, Corporate Services, NNPC, said that with the initiation of these processes the economy stands in a firm position to embrace the projected wind fall in thousands of direct and indirect employment, noting that as long as there are “activities, employment will continue”

The corporation disclosed this in a press statement Wednesday

He also affirmed that more discoveries await the Oil and Gas Industry in the Dahomeh Basin and Anambra Basin saying “it would bring more jobs and employment for the people.”

The NNPC GMD assured that the cardinal focus of the National Oil Company was to consolidate its role as the major enabler of the Nigerian economy, anchored on increased exploration activities in such a way as to bring maximum benefits to all stakeholders.

On the contributions of local content to the success in the frontier basin, the GMD stated that the Nigerian Content policy had remained a catalyst in this regard.

He said the Nigerian content drive had ensured the participation of Nigerian companies in several businesses across the entire value-chain, these areas include crude oil lifting, oil exploration and research and development, among others.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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