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Nigeria To Grow Oil Reserves To 40bn Barrels By 2025 – Minister Of Petroleum Resources

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The Nigerian government has stated that by 2025, it hopes to increase the nation’s oil reserves from their current level of 37 billion barrels to 40 billion barrels.

At the official groundbreaking of the Oil Prospecting Licenses (OPLs) 809 and 810 at the Kolmani River II well, which is situated at a border community between the states of Bauchi and Gombe, Nigeria’s Minister of Petroleum Resources, Timipre Silva, stated as much on Tuesday.

By 2025, the ministry must increase oil reserves from their present level of 37 billion barrels to 40 billion barrels, according to Silva.

President Muhammadu Buhari officially launched the Kolmani Integrated Development Project in the presence of several senior government figures, including governors, cabinet members, business leaders, and representatives of the Nigerian National Petroleum Company Ltd. (NNPCL).

He expressed his excitement, saying he was especially pleased with the collaboration between NNPCL, Sterling Global Oil, and New Nigeria Development Commission (NNDC) on the drilling effort.

“This is a testimony of the fact that the hydrocarbons sector still holds promise of returns on investment, highlighting the role that this resource will continue to play in the global energy mix,” Sylva said.

“In spite of the enormity of challenges that NNPC was confronted with, the day has come when we can collectively witness and celebrate drilling for hydrocarbons in the North of our dear country.

“The commencement of drilling of Kolmani fields which could hold as much as one billion barrels crude oil reserve, will significantly contribute in boosting our oil reserves and ensuring our continuous energy sufficiency,” he said.

He declared that the ministry was dedicated to identifying and advancing strategies for eradicating energy poverty, fostering shared prosperity, and establishing sustainable development.

The Petroleum Industry Act (PIA), according to Sylva, provided the regulatory framework and support necessary to carry out this mandate by creating the Frontier Exploration Fund, which the NNPC could use to deploy top-tier cutting-edge technology to reduce the risk associated with exploration in frontier basins.

He expressed gratitude to the President for reiterating his support for the unrestricted expansion of the petroleum sector.

 

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Tragic Building Collapse In R/State Leaves One Dead, Several Injured

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A tragic building collapse in Rivers State has left a middle-aged contractor, identified as Udeme, feared dead after a two-storey structure under construction caved in at the Egbelu Mgbaraja area of Ogbogoro Community, Obio/Akpor Local Government Area.

This incident comes just one week after a three-storey building collapsed at the Iriebe axis of the same local government, though that incident fortunately recorded no casualties.

READ MORE: Fire Ravages Ajah Market In Lagos, Goods Worth Millions Lost

The latest collapse occurred on Monday, November 4, 2024, around 2 p.m., with construction workers on site when the structure gave way.

According to eyewitness Mr. Jonathan Obey, the building’s second floor suddenly buckled, trapping Udeme beneath the rubble, while another worker managed to escape with serious injuries.

Obey, who attempted to rescue the trapped contractor, suspected negligence, saying, “We couldn’t reach him despite our efforts. An inspection revealed substandard materials had been used, with the foundation only three feet deep for a two-storey building, which is insufficient. The rebar was of poor quality, and essential supports, such as a center beam, were absent.”

The Rivers State Government has since sealed off the property and declared the developer, Vincent Nwoye, wanted for questioning.

Rt. Hon. Evans Bipi, Commissioner for Physical Planning and Urban Development, visited the site and expressed his dismay, attributing the collapse to gross negligence.

“This tragedy was preventable,” Bipi stated. “The developer failed to obtain an approved building plan and used inferior materials. The government will ensure accountability and take severe action.”

Bipi extended his condolences to the victim’s family and the Ogbogoro Community, affirming that the government will facilitate the family’s recovery of their loved one’s remains. “We sympathize with the bereaved family and the entire community,” he added.

The Commissioner for Special Duties, Dr. Samuel Anya, also condemned the developer’s actions, highlighting the dangers posed when profit is prioritized over safety. “This loss is a direct consequence of unethical practices,” he said.

The government has committed to a thorough investigation and tighter regulatory enforcement to prevent further tragedies in Rivers State.

 

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JUST IN: Justice Adeyeye, Ekiti State’s CJ Passes On

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The Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye has passed on.

The news of his passing was leaked by a reliable source under the condition of anonymity.

The sad incident, according to the source, happened in Ado Ekiti in the early hours of Tuesday.

His death is being traced to a sickness which came upon him following the injury he sustained when a section of the Ekiti State High Court Complex, Ado Ekiti wall collapsed in July 12, 2023.

ALSO READ: #EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors

The late Justice Adeyeye was at the office when the building collapse happened and sustained injuries.

While the state and his family were yet to issue statements on his demise, the Ekiti State Chapter of the Association of International Female Lawyers (FIDA) has sent condolences to the family.

The condolences message read: “With deep sorrow in our hearts and in total submission to the will of God, FIDA Ekiti consoles with the family of the Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye on his call to glory.

“May He find rest with his maker.

“I pray that God grants the family, the Judiciary and the people of Ekiti State, the grace to bear this irreparable loss.

Adieu great one.”

Justice Adeyeye was born 1960 in Araromi Ugbesi in Ekiti East Local Government of Ekiti State and was called to bar in 1986.

He started his career as a State Counsel in the civil service of the then Ondo State before joining the Ekiti State Judiciary Service Commission shortly after the state was created in 1996.

He was promoted to the position of a judge in the state’s high court in 2002 and has served at different occasions in the election petition tribunal.

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BREAKING: Court Drops Charges Against 76 #EndBadGovernance Protesters

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A Federal High Court in Abuja has dismissed all charges against 76 individuals accused of participating in the nationwide #EndBadGovernance protests.

The ruling came after the Attorney General of the Federation (AGF), Lateef Fagbemi, moved to discontinue the case under orders from President Bola Tinubu.

READ MORE: N1.3trn Fraud: EFCC Arrests Ex-Delta Gov, Ifeanyi Okowa

Justice Obiora Egwuatu, presiding over the matter, struck out the charges after hearing a motion from the AGF’s representative, Director of Public Prosecution of the Federation (DPPF) Mohammed Abubakar.

Citing Section 174 of the 1999 Constitution, the AGF formally took over the case from the Inspector General of Police, then requested to drop all charges against the defendants, many of whom are minors.

The judge granted the AGF’s application without objection from defense counsel, ordering the immediate release of the accused, who were not present in court.

This decision follows a directive issued on Monday by President Tinubu, instructing the AGF to withdraw charges against the protesters.

 

 

 

 

More to follow………. 

 

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