Jonathan promises to reduce Nigeria 's dependence on N'Delta for oil

Independent

28 February 2011

Jonathan promises to reduce Nigeria 's dependence on N'Delta for oil

President Goodluck Jonathan has declared that he was determined to reduce the government’s absolute dependence on the Niger Delta region for oil.

Niger Delta is the major source of 2.6 million daily oil production, which include crude and condensate. The President, who stated this on the sideline of a conference in Abuja, maintained that his administration was ready to open up exploration on five other basins in Nigeria.

Speaking through his Senior Special Adviser on Petroleum Matters, Dr. Emmanuel Egbogha, Jonathan said: “Nigeria has six basins, but it is only from the Niger Delta basin that exploration is being carried out. Our administration will open up the five other basins for exploration.”

He added that the Local Content Law passed by the National Assembly is a demonstration of the resolve of the government to enhance greater local participation in oil and gas business.

“Nigeria needs to get it right this time and that is the reason why many policies are being formulated, one of which is the Power Sector Roadmap to enable the country realise its Vision 2020 goal,” he said.