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.

http://thewillnigeria.com/general/19763.html

thank goodness.finally they will go their separate way and let Nigeria be.with the moni from this new discovery,they can afford to pay their brain child all the armnesty they want.who cares!

...wasted investment!hope the money doesnt end up in they hands of islamists,reference to boko haram.

Bokoharam exploration

The money will soon find its way into the purse of BH sponsors; let's watch and see!

There are some news that makes me hate being a Nigerian..This is just one
How much more will it cost us for the North to realize they can't find it in commercial quantity

hali





















this calls for dancing alingo hope it will help to curtail the bombings now that they have their oil to focus on

Basket mouth wan start to leak again ooO!!

Akin-David:
There are some news that makes me hate being a Nigerian..This is just one

Tell me about it. $100m that easily could develop other resources already available

What a way of keeping corruption alive in Nigeria!

You mean extra $100m for bh sponsors?

Another way to corner money against 2015

Finally the north get the oil they so vigorously seek I just hope they don't use it to fund their hate campaign

Why are they wasting time and funds. There can never be oil in the north.

OIL MONEY WAHALA MONEY

Na wa, see how they dey chop our money. God go jugde.
Check ma signature to recieve the dstv software.

This is money for the "amnesty". I hope they'll stop this there cowardly act of killing innocent souls.

sometimes i marvel when news that has every potential of just being news and not reality make it to the front page...

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Just 1.2 Billion Naira?? Abeggi!! Alams Fit Finance Ds Jor!!

But what about the kidnappings and killings of non-natives and foreigners in the northern regions?!!

Crude oil discovery but still no single refinery in the country. Is fixing things from the top to ground a negro thing. God must be crazy

[size=21pt]100 different farms created in the north
with $1 million dollars each.[/size]

That kind of headline will impress me more..
thousands of jobs....

Oil that could go into the pocket of just a select few.
oil that they don't even know if they will find,

Akin-David:
There are some news that makes me hate being a Nigerian..This is just one
How much more will it cost us for the North to realize they can't find it in commercial quantity

well said bro... this people just want to was money...

sigh

lets not forget that UAE is just as a desert like d north & they have abundant oil.same might apply here. but who will go there for exploration. maybe they will pay them in gold or diamond to go and explore. still watching.

Of all the over twenty(20) solid minerals of proven commercial quantity in the North non catches the fancy of the northern leaders except the exploration for oil! Greedy leaders who do not think good for the average northerner. All they think is oil and they are willing to sacrifice millions of souls for it.
What happened to the millions of tons of iron ore in Kogi? What happened to the barites in Bauchi? What happened to the lead/gold in Zamfara? And many more like that.
If GEJ is doing all this to pacify all those pugnacious greedy boko haram sponspored old men, then I am afraid that Jonathan is not the saviour we are looking for.

Are dis people dumb or wat so dey hav spent 240million dollars i.e 32billion naira for oil exploration since 2011 so wat hav dey gotten so far wasting dat huge amount of money wen it could hav been used to invest in d ajaokuta steel or other mineral resources in d north even if dey found oil wat abt d economical viability or are dey all dis shallow minded na only OIL,OIL AND OIL dey know with nothing to show for it.then i thought d fg is privatizing power sector why spend abt 170billion naira to build a power plant only to sell it for abt 80billion as usual in d name of privatization are our leaders i mean rulers getting deir fact right b4 making decisions i doubt dat

bigfat10: [size=15pt]Just N1.2 Billion naira ONLY ..NOT MUCH [/size]

think about it..... That kinda money poured into Agriculture or loaned out out to farmers, fresh graduates or small biz owners?
I can rule this country with one eye and still place us among the top 5 Nations in the world........ We are too rich left, right and center to be ruled by wackle clueless buffons.......
Cashmentor 2015? Who's with me *winks*

Our oyeh money,our oyeh money,Oga they chop am yanfu-yanfu...