Kogi govt moves to secure oil exploration investments

The Kogi State Government has set machinery in motion to secure investments for the exploration of oil and gas resources in the state.

This followed a meeting held earlier this week between Governor Ahmed Ododo, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, to chart a way forward for the exploration of oil and gas resources in the state.

The meeting, which took place at the Ministry’s headquarters in Abuja, focused on strategic steps to attract investment and technical support for the development of the state’s hydrocarbon deposits, leveraging the Frontier Basin Exploration Fund domiciled with the NUPRC.

Governor Ododo expressed the state’s readiness to collaborate with relevant federal agencies and stakeholders in harnessing its natural resources to drive economic growth through the exploration and development of its oil and gas assets.

He noted that strategic actions taken by the state government — including the enactment of the law establishing the Oil Producing Area Development Commission and engagement with relevant federal agencies and other partners — are crucial to ensuring that stakeholders are involved in developing the state’s oil and gas resources in the best interest of the people and prospective investors.

Governor Ododo had, in October 2024, expressed his commitment to providing an enabling environment for investors and their investments in petroleum resource exploration during a working visit to the Minister.

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He reiterated the willingness of the Kogi State Government to cooperate with the Federal Government to ensure that oil exploration in the state commences in line with President Bola Ahmed Tinubu’s commitment to boosting oil production in Nigeria.

On his part, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, reaffirmed Kogi’s status as an oil-producing state and restated the Federal Government’s support for mobilising investments to explore the state’s oil and gas assets.

The Petroleum Industry Act mandates the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to explore frontier basins and deploy funds to unlock new oil discoveries and exploration opportunities in Nigeria.

Kogi State became the first oil-producing state in Northern Nigeria following the Federal Government’s affirmation of the discovery of oil in commercial quantities in 2022.

NIGERIAN TRIBUNE