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Nigeria drills for oil in new field as theft erodes earnings

KIFI

By CHINEDU ASADU
Associated Press

ABUJA, Nigeria (AP) — Nigeria has begun drilling oil and natural gas in the country’s northern region, anticipating a boost to the nation’s finances even as the new energy supplies face the threat from theft and extremist activity. President Muhammadu Buhari flagged off the drilling within Kolmani oil field on Tuesday. Buhari said he’s “pleased” with the discovery, adding that the project has attracted a $3 billion investment. Crude oil has been critical in expanding infrastructure in the West African nation, accounting for 41% of the total federal government revenue in 2021. Nigeria’s state petroleum minister says the start of the drilling “marks yet another significant milestone in our collective quest as a nation to ensure energy security and access” for Nigeria’s citizens.

Article Topic Follows: AP National

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Associated Press

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