The discovery of crude oil in Borno State has
been confirmed by the federal government through the permanent secretary,
Ministry of Petroleum Resources, Dr. Jamila Shua’ra.
Making the disclosure during the presentation of her welcome address at the 2016 petroleum sector scorecard held at the auditorium of the Petroleum Technology Development Fund in Abuja, Jamila said the discovery of crude oil in Borno State is one of the achievements of the ministry in 2016.
Collaborating her statement, Vice President Yemi Osinbajo stated that the deregulation of the downstream sector, which led to the elimination of petroleum subsidy, saved the government a burden of N15.4 billion monthly.
Prof. Osinbajo also disclosed that the Federal Executive Council had recently approved new measures and strategies aimed at eliminating the burden of Joint Venture Cash Call arrears and easing future payments in the up-stream sector.
On his part, the chairman, Senate Committee on Upstream Petroleum, Senator Omotayo Donald, commended the petroleum resources ministry for embarking on the reforms, and pledged that the National Assembly will pass the Petroleum Industry Bill by the first quarter of 2017.
Making the disclosure during the presentation of her welcome address at the 2016 petroleum sector scorecard held at the auditorium of the Petroleum Technology Development Fund in Abuja, Jamila said the discovery of crude oil in Borno State is one of the achievements of the ministry in 2016.
Collaborating her statement, Vice President Yemi Osinbajo stated that the deregulation of the downstream sector, which led to the elimination of petroleum subsidy, saved the government a burden of N15.4 billion monthly.
Prof. Osinbajo also disclosed that the Federal Executive Council had recently approved new measures and strategies aimed at eliminating the burden of Joint Venture Cash Call arrears and easing future payments in the up-stream sector.
On his part, the chairman, Senate Committee on Upstream Petroleum, Senator Omotayo Donald, commended the petroleum resources ministry for embarking on the reforms, and pledged that the National Assembly will pass the Petroleum Industry Bill by the first quarter of 2017.
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