The Chief Executive Officer, Network For Election Education, Sensitization and Awareness, a Civil Society Organization Dr. Kailani Muhammad has expressed confidence that Nigeria can boast of generating Thirty Two Trillion Naira within ten years when commercial production of crude oil starts at the Kolmani region of the North-eastern part of the country.
He stated this while addressing newsmen on the recent launch of crude oil exploration in the North last week by President Muhammadu Buhari.
Dr. Kailani expressed hope that the new Refinery would join with other existing ones which are on the verge of being fixed by the Federal Government to bridge the oil supply gap currently being experienced in the country.
“With an estimated 1 billion barrels of crude oil reserve from the new northern oil wells, Nigeria is expected to gain nearly $73 billion or N32.3 trillion at an average global crude oil price of $73 per barrel benchmark used for the 2023 budget proposal. This earning could be realised over a period of 10 years; depending on when commercial production starts”
He however, urged the government not the allowed past mistakes of the Oil exploration affect social and economic activities of indigenous communities as witnessed in the Niger Delta region.
Dr. Muhammad Kailani expressed concerns that despite the billions of naira spent by the federal government in dredging of the River Niger to make it all-year round navigable and boost economic activities on the waterways, the operations of the inland water transport sector still unutilized.
“Let it be noted that the River Niger and its tributaries were the most reliable channels of transportation and communication in the pre-colonial and the post colonial period. It still remains one of the most critical natural assets that hold good prospect for economic diversification in Nigeria”
While speaking on the faced off between the Academic Staff Union of Universities and Federal government, the Chief Executive appealed to government to tamper justice with mercy and pay all the outstanding salaries to the lecturers in order to prevent brain drain and also support the lecturers to meet their obligations.
Cover/Shindong Bala