Nigeria has potential to become leading oil reserve in African continent― Reps

By Vaughn Hillyard On Dec 7, 2022

Members of the House of Representatives tasked Federal Government with the need to fast-track the Geo-Physical Survey/Seismic Data Acquisition with a view to ascertaining the availability of Hydro-Carbon in commercial quantity in the Bida Basin of Niger State.

The lawmakers passed the resolution during the debate on a motion sponsored by Hon. Saidu Musa Abdullahi solicited the House intervention towards ensuring the timely completion of the project.

In his lead debate, Hon. Abdullahi, who expressed optimism that Nigeria has the potential to become the leading oil reserve country in the African continent, applauded efforts made so far by the present administration.

He said: “The House notes that the Bida Basin also known as the Mid-Niger Basin comprises eight Local Government Areas including Mokwa, Lavun, Gbako, Bida, Katcha, Again, Edati, and Lapai in the Southern part of Niger State which extends to two Local Government Areas in Kwara State and one in Kogi State.

“The House is aware that the Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC) during a visit to the Executive Governor of Niger State, His Excellency, Alhaji Abubakar Sani Bello to unveil the 2D Seismic Data Acquisition in the Bida Basin in 2020, announced that the NNPC had commenced oil exploration activities in the Area and that the exploration could add 40 billion barrels to Nigeria’s oil reserves by 2023.

“The House is also aware that the Group Managing Director of Nigerian National Petroleum Corporation responsible for the Frontier Exploration Services in 2020 noted that in-depth Geological and Geochemical studies revealed a strong presence of hydrocarbon-bearing indicators confirmed as oil and gas-bearing formations .

“The House is aware that the Seismic Data Acquisition Contract on the identified areas to determine the volume
of the hydrocarbons in the Bida Basin was awarded to Integrated Data Services Limited and the China National Petroleum Corporation International Nigeria Limited by the NNPC Management.

“The House acknowledges that the discovery of oil in another region of Nigeria is good news for the country’s
energy sector and that if the volume of oil in the Bida Basin is established and exploration activities commence fully, Nigeria may, in the near future, overtake Libya, the country with the largest oil
reserves in Africa.

“The House is expectant that the Federal Ministry of Petroleum Resources and its relevant Agencies would expedite
action for the continuation of the oil exploration activities at the Bida Basin Niger State and other Basins in the country.

“The House is further aware that President Muhammadu Buhari has directed the NNPC Management to fast-track oil exploration across the Country, following Shell’s discovery of hydrocarbons in the Chad Basin
and Kolmani River, while the NNPC heeded President Buhari’s directive on the Chad Basin as the people of Niger State are anxious about the slow pace of oil exploration activities in the Bida Basin,” he noted.

To this end, the House tasked authorities of the Federal Ministry of Petroleum Resources, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Corporation Limited to conclude the geophysical survey that the defunct Department of Petroleum Resources (DPR) started in order to ascertain the availability of hydro-carbon in commercial quantity in Bida Basin,” Hon. Abdullahi noted.

While ruling, the Deputy Speaker, Hon. Idris Wase, who presided over the plenary, mandated the joint Committees on Petroleum Resources (Upstream) and Legislative Compliance to ensure compliance.