After several months of exploration activities, crude oil has reportedly been discovered in Borno State according to the Nigerian Government, yesterday.
Permanent Secretary of the Ministry of Petroleum Resources, Mrs. Jamila Shua’ra, disclosed this during the agreement signing ceremony for joint venture, JV, cash call exit and presentation of the petroleum sector score card in Abuja. She attributed the discovery of oil in Borno and Lagos to the doggedness of this administration.
Also, the ministry announced that the Department of Petroleum Resources, DPR, would in 2017 conduct bid rounds for open blocks and conclude the previously aborted marginal fields bid round to enhance the entry of new players, stimulate competition and generate revenue for the government.The state will join other states like Lagos and Ogun state where crude oil has been found. Also, this discovery will serve as a relief for the state which has been ravaged by the activities of extremist sect, Boko Haram, for the past 6 years if the crude found is in commercial quantity. The continued discovery of crude oil in Nigeria which is the country's top source of revenue will lift the reliance on the Niger Delta region of the country where Oil was first discovered