“This work must be done very fast because the whole world is walking away from fossil fuels due to the energy transition” Kyari stated, adding, “The earlier you go to market, the better for you. Otherwise, 10 years from now, no one will agree to put money in the petroleum business except if it comes from your cash flow.”

Following the discovery of commercial quantities of oil and gas in the northeastern states of Bauchi and Gombe, NNPC has begun taking coordinated steps to ramp up frontier exploration in the region, in an attempt to boost the nation’s oil reserves.

Additionally, it was noted that community support in the region and a conducive operating environment will be essential to successful oil activities in northern Nigeria, which have the potential to transform the socioeconomic landscape of the region. The discovery of oil in the State will serve to attract foreign investment, while generating employment and increasing government revenues.

A statement issued by the NNPC indicated that results of exploratory activities in the Nasarawa State confirmed the presence of substantial hydrocarbon resources.