The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, has put to rest the false claims making the rounds across the country that commercial quantities of crude oil have been discovered in the Bida Basins, pointing out that the claim is not only alarming but untrue.
The NNPC Managing Director, who made this declaration during his acceptance speech delivered during his conferment with the Fellowship Award of the Ibrahim Badamasi University, Lapai, (IBBUL), Niger State, yesterday, said the Corporation was still analysing the Basin to determine if the hydrocarbons have been generated.
According to Baru, “there are ten stages of activities that lead to the discovery of oil and gas and the Bida Basin exploration is in the fourth stage which is determining if hydrocarbon have been generated in the Basin.
“For now, the Bida Basin exploration has not advanced to the level of declaring discoveries talk less of claiming that the oil and gas present is in commercial quantities”
He said the success of the ongoing exploration in the inland Basins will be of great benefits and would usher in a new dawn, in terms of generating higher income and thereby leading to accelerated development across all sectors of the country.