NEWS
Nigeria To Grow Oil Reserves To 40bn Barrels By 2025 – Minister Of Petroleum Resources
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.
International News
Bangkok Underwater: Nearly 4,900 Evacuated as Floods Hit Thailand Capital
Heavy rains have triggered severe flooding across parts of Bangkok, Thailand, forcing nearly 4,900 residents to evacuate to shelters as floodwaters swept through roads and residential areas.
The flooding has disrupted movement across parts of the Thai capital, with motorists and pedestrians forced to navigate submerged roads and seek alternative routes.
SEE ALSO: NAFDAC Warns Nigerians As Fake Cowbell Milk Floods Market
According to the Bangkok Metropolitan Administration, about 52,000 households have been affected by the flooding, prompting authorities to declare a flood disaster and intensify emergency response efforts.
Emergency teams have been deployed to assist affected communities and move residents from vulnerable areas to safer locations as water levels rise.
Bangkok is accustomed to seasonal heavy rainfall, but intense downpours can overwhelm drainage systems, particularly in low-lying areas, resulting in widespread flooding and disruption.
Authorities are continuing to monitor affected locations while coordinating evacuations and other emergency measures.
For thousands of residents, the immediate priority remains securing safe shelter and protecting homes and livelihoods as authorities work to manage the situation and restore normal activities once the floodwaters recede.
NEWS
‘Over 10m Nigerians Got ₦75,000 Cash Transfer, But They’re Not On Social Media’ — Yilwatda
The National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, has said more than 10 million Nigerians have received ₦75,000 each through the Federal Government’s conditional cash transfer programme.
Yilwatda made the disclosure on Saturday while responding to questions from journalists after the APC’s three-day National Executive Council (NEC) retreat in Maiduguri, Borno State.
According to him, many of the beneficiaries are not active on social media because they cannot afford mobile phones and other communication devices.
ALSO READ: Atiku Vows Probe of ₦33.75bn Cash Transfer to 3.29m Nigerians
He said this has made the impact of the government’s interventions less visible in online discussions.
“We have given 75,000 naira to over 10 million Nigerians across the country using the conditional cash transfer under the ministry of humanitarian affairs and poverty reduction,” Yilwatda said.
The APC chairman said the beneficiaries were largely vulnerable Nigerians who have limited access to mobile phones, television and social media platforms.
He maintained that the absence of beneficiaries from social media discussions should not be interpreted to mean that government interventions were not reaching them.
Yilwatda also listed road construction, employment opportunities created through infrastructure projects and student loans among programmes implemented by the President Bola Tinubu-led administration.
He said the Federal Government was constructing roads across the country while Nigerians working on the projects were being paid.
His comments come amid ongoing public scrutiny of the Federal Government’s conditional cash transfer programme, particularly regarding the number of beneficiaries and the amount disbursed.
In August, the Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, said the government had distributed more than ₦600 billion in cash transfers over three years, reaching slightly more than 10 million households.
Biztellers reports that former Vice-President Atiku Abubakar subsequently questioned the government’s reported beneficiary figures and called for greater transparency and accountability in the programme.
Meanwhile, Yilwatda said the APC NEC retreat also reviewed the party’s structures and activities at the national, state, local government, ward and polling-unit levels ahead of the 2027 general elections.
He said the party had resolved to strengthen reconciliation efforts across its state chapters and urged chapters that had yet to establish reconciliation committees to do so.
Yilwatda added that the APC leadership would take an active role in communicating the Tinubu administration’s programmes and achievements to Nigerians during the party’s electioneering activities.
The APC chairman also said the NEC expressed support for President Tinubu, Vice-President Kashim Shettima and other APC candidates who emerged from the party’s primaries for the 2027 elections.
The party also expressed condolences to the government and people of Niger State over the deaths of 37 miners.
International News
‘They Are Dying’ — Trump Explains Why He Rejected Iran’s Hormuz Proposal
US President Donald Trump has explained his decision to reject Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran was seeking an agreement because it was losing revenue.
Speaking to reporters at the White House, Trump said Iran wanted to immediately reopen the strategically important waterway but argued that the proposal was not acceptable to his administration.
“They want to make a deal, and I think that’s fine. I like making a deal, too, but that deal would not be acceptable,” Trump said.
SEE ALSO: How the Strait of Hormuz Attack Could Trigger a Fresh Global Oil Shock
According to the US president, Iran’s push to reopen the strait was driven by the economic pressure it was facing.
“What they want to do is immediately open the Hormuz Strait. Do you know why? Because they are dying,” Trump said.
“You know why they’re dying? Because they have no money coming in, because they get their money from the Hormuz Strait.”
Trump also claimed that the US had established an unprecedented naval blockade against Iran, describing it as “a wall of steel.”
“So they outsmarted themselves. We put up the greatest blockade ever in military history. It’s a wall of steel,” he said.
“And guess what? They don’t have any money now because they wanted to close the strait.”
The Strait of Hormuz is a major global energy shipping route, and disruption to traffic through the waterway has significant implications for international oil markets and countries that depend on energy imports.
Trump’s remarks came amid continued tensions between Washington and Tehran over the reopening of the strategic waterway and negotiations involving Iran.





