The quest for Ogun State to become an oil-producing state is on the brink of fulfillment as the Nigerian National Petroleum Corporation Limited plans to commence oil and gas exploration in the state. High-profile stakeholders in the oil industry, including government officials and industry leaders, recently visited Ogun State to discuss the commencement of oil exploration activities.
The Minister of State for Petroleum Resources emphasized the potential for oil discoveries in Ogun State, highlighting the importance of the state’s location in the Dahomey Basin. The visit aimed to demonstrate the government’s commitment to expanding oil reserves and boosting revenue through exploration activities.
The Group Managing Director of NNPC assured that exploration activities would soon begin in Ogun State, with hopes of finding oil in commercial quantities. The Executive Director of Nigerians Upstream Petroleum Regulatory Commission emphasized the government’s dedication to growing oil reserves through aggressive exploration.
Overall, the initiative in Ogun State presents unique opportunities for economic growth, potential petroleum production, and reduced import dependency, aligning with the government’s objectives outlined in the Petroleum Industry Act (PIA).