Business Hilights

Tracking Nigeria's Headline Business News Online


Finally, FG confirms oil in commercial quantity in Borno, but…

Ad 2
Ad 3

The highly criticized insistence of President Muhammadu Buhari in ordering the Nigerian National Petroleum Corporation (NNPC) to intensify oil search in Borno State has paid off as the federal government weekend confirmed the discovery of crude oil in Borno State, North East Nigeria.

Though the development has raised the hope of the region in joining the league of oil producing areas in the not-too-distant time, it was not clear if it was the presence of the oil that had ab-inito encouraged Boko Haram to annex the region which is on the failing streak.

Permanent secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, gave the good news when she presented her welcome address at the presentation of the 2016 petroleum sector scorecard held at the auditorium of the Petroleum Technology Development Fund (PDF) in Abuja.

She brandished the discovery of crude oil in Borno State as one of the achievements of the ministry during the year, saying, “Our doggedness culminated in the discovery of oil in new frontiers – Lagos and Borno.”


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.