Nigerian President, Muhammadu Buhari on Tuesday flagged off the Kolmani Integrated Development Project in the North-East, the first in the zone.
Buhari said the oil exploration at the Kolmani River located between Gombe and Bauchi states has already attracted over $3bn foreign direct investment and will boost Nigeria’s fortunes and earnings.
The project is expected to start with a daily production of about 50,000 barrels of crude oil.
Recall that the Kolmani Oil Prospecting Lease (OPL) 809 and 810 at the Kolmani field site will be the first oil drilling in northern Nigeria, following the discovery of oil in commercial quantity in the region about two years ago.
With the discovery, both Bauchi and Gombe may in the near future begin to benefit from the 13% derivation from oil accruals to states. Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari also spoke to reporters.
Beyond this, the Buhari administration boasts of being the first to discover oil in the north.