Desyner:
This is 'scalar' diversification. More magnitude of same entity or more of oil.
We need 'vector' diversification. That is more magnitude in different directions like agriculture, industries etc.

Was also wondering if this is what they meant by "diversifying the economy"

Alanzazani:
Why would NNPC waste scare resources on oil exploration. Private investors should be granted licenses to do this if it is a viable undertaking.

Why can't we have a future roadmap or plan in this country why are we saddled with visionless people at the helm of affairs. I read the story of Dubai written by one of thier leaders. From the day oil was discovered in UAE they started thinking of how to use the oil to develop an economy independent of oil. They focused on trade, tourism and human capacity development. When mediocres are at the helm of affairs this is the result. Which kain country and government be this

They wasted billion of dollars prospecting for oil earlier. With the latest technology in oil exploration, it will be successful. Why spends Nigeria money again. Ndimi & co should have brought their partners to invest. We (SW) thought these people have changed.

Good can we now restructure

jokers... i wonder this waste of resources...illumedien basin..has no reservoir potentials, The borehole section is delineated into upper foraminifera and lower ostracod biostratigraphic units as no formal biostratigraphic zonation could be attempted due to low diversity of both benthic foraminifera, marine ostracods and the absence of planktonic foraminifera.
Kegeron that has the oil profile at commercial quantity are formed from the planktonic forams.....we will all wait for the outcomes!

Ok

activistjohnny:
Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too.

There's no oil in sokoto Sir.

They've not begun exploration but exploitation . The op used a wrong word.

ydass:
lol waste Nigeria money dey find oil for where there is no oil. Why are people still in support of Buhari. He is a bigot and a johadist

If the oil was found in your region, you won't complain but cos it's found in the North, Buhari suddenly become a bigot. You guys are honestly horrible...

ERockson:
Good development. When north start generating money through oil, the issue of our oyel, marginalization, biafra will down.

They don try to find oyel for Chad basin e no work.Now Na for Sokoto again.Didnt buhari call for diversification of resources to agriculture?Why have they not put measure in place to make it work just as they are spending Niger delta resources in searching for non availability of crude oil in a non oil region?The governor of Sokoto state want to embezzle money in the name of oil exploration.

activistjohnny:
Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too.

My friend exploration is different from discovery.

Nice one... I hope boko nor go reach there like Militant here in Niger Delta.

People are quick to say that the world is advancing, going solar and all that. That soon there will be no need for oil... And im like really

Yeah, very soon cars will be solar...
But when will cranes, tippers, bulldosers and heavy equipment become solar... Not in 30 years!!!
When will your heavy duty generators become solar??
When will ships become solar??
When will d danfo drivers and average nigerians start using solar cars as most of these cars are HYBRIDS!!??

Besides its called oil and gas... Gas is still very very important as it is used for cooking, industrial processes and power generation and Nigeria even has natural gas in very large volumes...
Nigeria has to diversify but Oil and Gas is still very relevant in our economy and will remain so for a very long time and thus no kobo should be spared in ensuring its efficient exploration and exploitation.

activistjohnny:
Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too.

it is exploration and not oil drilling.

All in vain.

I think FG should try to explore Sambisa forest. I heard there are untapped oil inside there near Boko Haram's Base. Rubbish!
.
.
.

North is preparing for restructuring. They lied to us about diversification of the economy but they begin oil search in Sokoto and Borno. They realize that Southerners want to control their own resources and there are becoming very nervous and desperate. Trying to find oil by force. ARE NORTHERNERS FACING THE REALITIES OF RESTRUCTURING NOW? I realize that they all give low oil price as reason for failed economic policies, but also forgot to mention that Buhari was aware of dynamic oil price before he made the promise to Nigerians that he will make 1 Naira = 1 Dollar, deceiving Nigerians to get the votes.
Secondly they forgot to mention that oil price during past administrations was not static, yet past governments were able to balance dynamic oil prices with good economic policies to buffer the economy. This was the reason Nigeria became the largest economy in Africa. Almost all oil-producing countries around the world are now stable except the Nigeria. So you no longer need not wonder why Buhari is compared to GEJ.
More than 40 flights have stopped operations in Nigeria including international flights. Presently, Ethiopian Airlines want to buy Arik Air. More than 37 Companies and foreign investors have stopped operations in Nigeria, including the famous tomato factory.
In Buhari's first year in office, the banking sector and other institutions fired so many employees increasing the percentage of unemployment. CBN rolled out very bad policies that drove investors out of the country which today they (CBN) have reversed, and the list goes on.
All these events are not caused by low oil prices. Today they are now seeking to discover more oil. The same oil that its low price is destroying the Nigerian economy. What an irony! Buhari and his APC government are just a mess. They messed up this country. They destroyed this country with very bad policies.

What kind of logic is this?

activistjohnny:
Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too.

activistjohnny:
Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too.

Which part of Libya? The one that is closer to the Mediterranean Sea (i.e. northern part) or one that is far from the sea?

I can confidently tell you that looking for oil in commercial (large) quantity in the Sokoto basin is an exercise in futility. The greatest hydrocarbon deposits are in the sea and coastal (freshwater) regions of the world. Kindly relay the info to the illiterate Minister of Petroleum, the NNPC GMD and the Almajiri governor of Sokoto state.

comshots:
They don try to find oyel for Chad basin e no work.Now Na for Sokoto again.Didnt buhari call for diversification of resources to agriculture?Why have they not put measure in place to make it work just as they are spending Niger delta resources in searching for non availability of crude oil in a non oil region?The governor of Sokoto state want to embezzle money in the name of oil exploration.

Oil can be found anywhere, Don't be surprise oil might be in 75% of Nigeria states including desert.
We all know oil is the one causing problem in the country and when every state has it, the country will split peacefully or live peacefully.

activistjohnny:



https://www.vanguardngr.com/2017/09/nnpc-begins-prospecting-hydrocarbon-sokoto-basin/

Femi Fani-Kayode
You condemn the killing of the Rohingya Muslims in
Myanmar yet you slaughter Igbo Christians and Shiite
Muslims in Nigeria and you turn a blind eye as your Salafist
Fulani kinsmen and herdsmen butcher northern and
southern Christians.
You declare support for the establishment of a Palestinian
state yet you reject the idea of Biafra. You condemn N.
Korea's dictatorship yet you have proved to be the most
ruthless dictator that Nigeria has ever known.
Your speech at the United Nations was pitiful, shameless
and uninspiring. It was a cocktail of contradictions, deceit
and mendacities.

I can now confirm that Nigeria is an underdeveloped country and not a developing country as widely claimed. When other countries are working towards developing electric cars to make oil less attractive in the nearest future, my mother land is busy exploring.

Deeldorado:
Global oil prices are low and will remain so even in the distant future. At the same time, countries are announcing plans to exit the use of fossil fuels via electrical cars and investments in green energy. Nigeria should be responding by developing a concrete plan to wean herself of dependency on oil by diversifying her economic base and revenue sources but these daft people are busy searching for more oil where it does not exist. What a pity to be born into a country of daftness where people don't think ahead. The commodity super-cycle is over, Mr. Buhari.

God bless you. Would it not have made sense if government invests same amount of money they have wasted on oil exploration in the Chad Basin and the one they want to waste now in the Sokoto Basin, on other sectors of the economy? I won't be surprised if Buhari extends his oil exploration to Hadejia-Jama'are Basin (Kano) tomorrow.

I'm surprised he has not extended same to the largest river basin within Nigeria i.e. Niger River Basins. I can simply guess that this is because the basins are located in the middle belt region, and does not really represent the interest of the far north which he is fighting tooth and nail to defend and prove that they are not parasitic.

This is the fate of a nation which chose a tribalist, bigot and illiterate as a president in the 21st century.

ERockson:


Oil can be found anywhere, Don't be surprise oil might be in 75% of Nigeria states including desert.
We all know oil is the one causing problem in the country and when every state has it, the country will split peacefully or live peacefully.

Yes, oil can be found anywhere since they are carbon deposits. The question is, is the oil available in large (commercial) quantity to justify huge investments in terms of exploration and drilling?

Oil-producing nations usually explore oil in regions much closer to their coastline aside the offshore explorations. The farther an environment is from the ocean, the less rich it is in terms of hydrocarbon deposits.

Buhari is simply looking for oil in the north to prove a dumb point, and he need not waste our meagre resources on a futile exercise. Please drum that into his deaf ears.

ydass:
lol waste Nigeria money dey find oil for where there is no oil. Why are people still in support of Buhari. He is a bigot and a johadist

What do u expect from federal govt of the north(FGN),the owner of NORTHERN NIGERIAN PETROLEUM CORPORATION(NNPC) to do?
ZOO INDEED.....HAUSAFULANI HAS SET NIGERIA NATION BACKWARD BY 70 YRS

RomeSankara:


True the Benue trough has the largest proven deposits in the country but for some reason they just keep mute on it since 1975 when exploration activities there prove it

Thank you for bringing this up. You should understand why they are not looking that way. The Benue Basin can not represent the interest of the core north, just like the Niger Basin will not.

We all know that states like Benue and some other middle belt states are different to a large extent from the core northern states in terms of culture and ideology. Oil drilling within the Benue Basin will be like a continuation of enrichment of the southern region and impoverisaton of the core north. The king of the north doesn't want that.

Deeldorado:
At the same time, countries are announcing plans to exit the use of fossil fuels via electric cars and investments in green energy.

They have come again listening to what the west says it is doing, instead of paying attention on what the west is doing.

I wont go deep into this argument because the "myth of crude oil growing insignificance" has been busted in several circles.

First thing you need to think about is "how much does crude oil trade contribute to the west's influence , financially or otherwise"

Second questions, is the west's demand for power rising or falling.

Third, why did Trump pull out of the climate agreement.

Fourth, why do you think Trump is fueling the conflict in north-korea.


_{Dem go dey complain, Naija no gree develop. When dem self no fit spell "develop".}

They are now looking for palmoil when they didnt find groundnutoil in chad basin. Basin ko baff ni awon oponu aye!

[quote author=activistjohnny post=60672345]Congratulations to sokoto state on this oil discovery. Sokoto state ought to have been drilling hydrocarbon by now. Since libya land has crude oil definitely sokoto state which is desert areas ought to have been producing oil too. [That they share common boundaries with Libia doesn't make their lithology a potentially viable one for hydrocarbon exploitation, as common features (like faults) can actually alter a reservoir. Hence truncating a free flow. However, it is quite good to begin exploration there so as to douse the tension so far created by the activities of the Niger Delta militants.]

mrvitalis:


North has oil but locked so dip it needs mordern technology to explore

Lol

Bless you @GeoOla25! You have said it all, Sokoto Embayment (extension and Ngeria arm of Iullemende Basin) has no potential with respect to this white elephant project being chased by the GOVERNMENT of the day!
It saddens my heart that we are still where we are in this country due to mentality of our leaders, forgetting the fact that it takes a decision to bring us close to the better life the masses are yearning for and the same time it takes also a decision to plunge us deeper into the bottomless pit of recession, we claim to have come out from few days ago.
SMH

GeoOla25:
jokers... i wonder this waste of resources...illumedien basin..has no reservoir potentials, The borehole section is delineated into upper foraminifera and lower ostracod biostratigraphic units as no formal biostratigraphic zonation could be attempted due to low diversity of both benthic foraminifera, marine ostracods and the absence of planktonic foraminifera.
Kegeron that has the oil profile at commercial quantity are formed from the planktonic forams.....we will all wait for the outcomes!

What Mr Baro highlighted are the reconnaissance studies in hydrocarbon exploration irrespective of the basin. Be it Sokoto or Anambra basin same preliminary studies apply. In simple terms, no discovery has been made yet in sokoto basin. Govt should diversify scarce foriegn exchange into other sectors and provide support to researchers and private sectors for basinal studies instead of wasting current proceeds on wildcaat exploration

dustydee:
I don't think this is necessary. The government should get private entities to invest in these blocks.

My dear, they've not found oil yet... I wouldn't know why search for oil when the world is looking for alternative energy.