NNPCL Announces Resumption of Kolmani Oil Drilling in Northern Nigeria
Project Revival After Two-Year Hiatus
Two years after its initial launch, Nigeria’s National Petroleum Company Limited (NNPCL) has announced plans to resume crude oil drilling operations at the Kolmani site along the Bauchi-Gombe border. The project, which marked northern Nigeria’s first-ever crude oil exploration when inaugurated by former President Muhammadu Buhari in November 2022, had been stalled shortly after commencement.
New NNPCL Leadership Commits to Regional Development
In a recent BBC interview, NNPCL’s new head Bayo Ojulari assured residents that drilling activities would recommence. “We will continue the drilling in Kolmani and other sites,” Ojulari stated, adding that the company remains committed to completing the Ajaokuta-Kano gas pipeline project.
The NNPCL chief emphasized these projects would stimulate economic growth by reviving closed industries and creating new opportunities. “This development will bring economic benefits to the region, uplifting everyone through shared prosperity,” he explained.
Resolving Conflicts and Ensuring Fuel Supply
Peace with Dangote Group
Addressing the ongoing dispute with Dangote Group, Ojulari revealed reconciliation efforts are underway. “Dangote has made significant contributions which deserve commendation,” he acknowledged, promising future collaboration to maintain consistent fuel supply for Nigerians.
The NNPCL leader assured that any future disagreements would be resolved through dialogue, stating: “You won’t hear of any more clashes between NNPCL and Dangote Refinery. We’ll work together for Nigeria’s benefit.”
Global Oil Price Challenges
Ojulari also addressed the impact of declining global crude oil prices on Nigeria’s economy. “This decline affects Nigeria’s budget since a major part relies on projected oil revenue,” he noted, while explaining NNPCL’s cost-cutting measures to optimize earnings.
Regarding public concerns about stagnant local fuel prices despite global decreases, Ojulari clarified: “If dealers bought fuel at higher prices before the drop, they need to sell at that rate initially. With new purchases at lower prices, we expect local prices to eventually reflect the change.”
Source: AllAfrica