Nigeria: Gombe Signs MOU With Private Firm On Oil Exploration

This content has been archived. It may no longer be relevant

The Gombe State Government signed an MoU with an oil firm for the exploration of petroleum products in the state.

The Gombe State Government has signed a Memorandum of Understanding (MoU) with an oil and gas company, Rift Oil and Petroleum Company, for the exploration of petroleum products in the state.

Governor Inuwa Yahaya, who chaired the signing ceremony on Tuesday, said more than ever before, the need to extract the discovered oil and gas in the Kolmani oil field, had become necessary.

He said with the signing of the Petroleum Industry Act (PIA) and the clamour by some states to collect and retain the Value Added Tax (VAT) the new arrangement would go a long way in the IGR drive of his administration.

Also speaking at the event, the Chairman of Rift Oil and Petroleum Company, Rabiu Suleiman, who briefed the governor and made elaborate presentation on history and politics of oil exploration in the northern part of Nigeria, assured that the hydrocarbon deposit discovered in the Kolmani site is of large commercial quantity.

He said Gombe State stands to benefit tremendously in terms of jobs and wealth creation as well as infrastructural development in addittion to enhanced commercial activities.

He also explained that the MoU signed and other engagements on the projects will fully capture the interest of the host communities and government to avoid the experience of the Niger Delta people.