The Buhari-led government had disclosed in February 2020 that about one billion barrels of crude oil had been discovered in the Northeastern part of Nigeria.
Sylva, who made the disclosure at the 2020 Nigeria International Petroleum Summit (NIPS) in Abuja,
had said, “The figure we are getting, the jury is not totally out yet, but from the evaluation results we are getting, the reserve that has been discovered in the northeast is about a billion barrels.
“Those are the kind of figures we are seeing and we are beginning to understand the geological structure of the region.”
The minister had noted that a lot of oil was yet to be found in the country, adding that there was a need for more exploration in the country as more oil would be discovered.
Both the NNPC and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have been passionate about growing Nigeria’s oil and gas reserve and have been taking a number of measures and actions towards achieving that.
SOURCE: THISDAY
