FG Provides $100 for exploration of Oil in the North

CHAIRMAN OF THE NORTHERN ECONOMIC SUMMIT, PROFESSOR
JERRY GANA
The Northern Economic Summit (G-20) has disclosed that the
federal government has provided the sum of $100 million in
2013 to facilitate the exploration activities for oil and gas in the
region.
The areas where such explorations are ongoing include the
Chad Basin, Benue Trough, Bida basin, and Sokoto-Rima basin,
among others.
Chairman of the Northern Economic Summit and former
minister, Professor Jerry Gana, who gave a progress report of
action taken on economic development issues by the group
since its 2011 summit, said that the money would be used for
continuous assessment of hydrocarbon resource potentialities
of the seven inland basins in Nigeria.
Besides the $100 million for 2013, Gana said that government
had, in 2011, provided the sum of $70 million and another $70
million in year 2012 for the same exercise.
“Government provided in 2011, $70 million; 2012, $70 million
and 2013, $100 million for the hydrocarbon exploration in the
Lake Chad Basin and other northern hydrocarbon basins.
“In 2011, NNPC had, through its technical consultants,
concluded the search, evaluation and identification of capable
Airborne Geophysical Survey companies for hydrocarbon
exploration of the inland basin of Nigeria,” the professor said.
Gana said that government had concluded the necessary
arrangements to award the contract for airborne gravity,
magnetic and electromagnetic exploration surveys of the seven
inland basins in the country
On hydro-electric power project at Zungeru and the Mambila
plateau, the chairman remarked that government had included
the Mambilla power project among the projects to be supported
under the NIPP/NDPHC programme, noting that there are many
ongoing generation, transmission and distribution projects
designed to improve power supply in the northern part of the
country.
“It is important to note that government has awarded the 700
megawatts Zungeru hydro-power project at the cost of $1.2
billion (N170 billion). Ground breaking ceremony will be
performed in April 2013,” Gana said.
The chairman further remarked that the Kashimbila Dam had
reached advanced stage of construction, while Gurara Phase 1
had been completed.
On the Mambilla hydro power project, Gana said that the
Memoranda of Understanding (MoU) for the construction works
had been signed with two Chinese companies at a construction
cost of $6.4 billion, while the bidding process and financing
arrangement is scheduled for the first quarter of 2013.
The summit also urged the Book Haram sect to embrace
dialogue in order to foster peace in the northern region as
development can only thrive under a peaceful atmosphere.

Abet how una see this decision by FG?