Connect with us

BIG STORY

220 Oil Blocks Abandoned Amid Debt, Crude Crises

Published

on

Nigeria has 220 open oil blocks spread across onshore and offshore basins, according to data from the Nigerian Upstream Petroleum Regulatory Commission.

This comes despite rising national debt and crude supply challenges affecting domestic refineries.

The data indicates that the deep offshore region has the highest number of unlicensed blocks at 59, underscoring the country’s underutilised energy reserves in a technically demanding and capital-intensive area.

The Benue Trough has 41 available blocks, while the Chad Basin accounts for 40. The Sokoto Basin holds 28 unawarded blocks, and the Bida Basin has 16. Even in mature regions, some blocks remain idle.

In the offshore Niger Delta, which has long been central to Nigeria’s oil production, seven blocks are still unlicensed. The Anambra Basin has 13 open blocks, while eight each remain in the Benin Basin and the onshore Niger Delta.

A recent publication by the commission noted that 24 blocks were awarded from the 2022/2023 deepwater mini bid round and the 2024 licensing exercise.

Highlighting Nigeria’s deepwater potential, the commission pointed to commercial discoveries and successful operations by companies such as NNPC Exploration and Production Limited’s Abo field, Chevron’s Agbami field, Yinka Folawiyo’s Aje field, TotalEnergies’ Akpo and Egina fields, Shell’s Bonga field, and ESSO’s Usan and Erha fields.

The commission explained that deepwater terrain has attracted growing interest from international oil firms amid ongoing portfolio reviews and asset divestments. However, development in this region remains limited due to its technical complexity, significant capital requirements, and infrastructure challenges.

It added that there are currently 59 unlicensed blocks in the deep offshore zone, representing 27% of Nigeria’s open blocks and 80% of those in the Niger Delta and its offshore extensions.

As of January 1, 2025, the deepwater region contributed around 19% of Nigeria’s oil reserves and 12% of gas reserves. Experts said these figures show a disconnect between the country’s reserves and its actual production output.

The country’s dependence on oil revenue means that delays in licensing and developing oil blocks affect revenue generation, driving reliance on borrowing. Nigeria’s debt climbed to over N149 trillion in Q1 2025, with local refineries still grappling with crude shortages.

A map released by the commission revealed extensive areas, especially in Nigeria’s maritime zones, that remain untapped. While projects like Agbami, Bonga, Egina, and Akpo have been successful, they remain exceptions in a largely undeveloped offshore terrain.

To address this, the commission plans to introduce a cluster development model to unlock smaller reserves and reduce costs. A 2025 licensing round was announced but had yet to begin at the time of reporting.

In addition to the 220 open blocks, Nigeria also has several licensed fields that remain undeveloped. The commission estimates over three billion barrels of oil are held in such fields.

In April, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, threatened to revoke undeveloped oil blocks.

He urged international oil firms to boost investment in the Nigerian oil and gas sector, noting that the current administration has created an enabling environment for operations.

He stated that keeping oil blocks idle for 20 to 30 years adds no value, urging companies to consider joint development strategies or relinquish the assets for reassignment.

He also emphasised support for local refining, pointing out that new refineries need reliable crude supply. He said boosting production is key to meeting both domestic and export obligations.

The Dangote refinery, for example, reportedly imported up to 10 million barrels of crude in July from the United States to meet feedstock needs.

BIG STORY

Tokunbo Wahab at 54: A Quiet Force in Public Service —– By Ayobami Ladipo

Published

on

As Tokunbo Wahab turns 54 today, the occasion feels more than another birthday on the calendar. It is a moment to recognize a public servant who has come to symbolize steadiness, discipline, and a certain uncommon seriousness about service.

Known publicly as the Lagos State Commissioner for the Environment and Water Resources, Tokunbo Wahab has spent recent years carrying out his responsibilities with a mix of firmness and restraint that is becoming increasingly rare in public life.

What stands out most about him is not noise, but consistency. In a world that often rewards the loudest voice in the room, Tokunbo Wahab has built a reputation around substance. He appears to understand something simple yet powerful: leadership is not only about holding public office but also about leaving people better than you found them. That is the kind of leadership people remember. It is the kind that builds confidence, sharpens others, and creates room for growth.

Those who admire him often speak of his human side just as much as his professional side. They describe a man who values people, takes mentorship seriously, and does not seem interested in protecting his own status at the expense of others’ rise. In many spaces, especially public service, it is easy for influence to become self-preservation. Wahab, at least by reputation, seems to lean in the opposite direction. He is the sort of leader who wants his protégés to succeed, not merely survive.

There is also something admirable in the way he carries responsibility without overplaying it. A good administrator does not always need applause to prove impact. Sometimes, impact is seen in the structure of the work, the clarity of the process, and the people who quietly grow under that leadership. That is where Tokunbo Wahab’s value seems to sit: in the patient work of building systems and building people at the same time.

At 54, he stands at a point where experience and maturity should naturally deepen purpose, and by every indication, that is exactly what has happened. He has become one of those figures whose presence suggests order. Not the kind of order that stifles, but the kind that gives direction. Not control for its own sake, but discipline with intent. In that sense, his birthday is not just a personal milestone; it is also a reminder of the kind of leadership people still respect when they see it up close.

So, on this special day, the tribute is simple. Tokunbo Wahab deserves to be celebrated not only for what he does, but for how he does it. For the grace in his administration. For the dignity in his conduct. For the way he appears to invest in people, not just positions. And for proving, in his own quiet way, that a good man in public office is still one of the most valuable things a society can have.

Sir …. I celebrate you today and always, my mentor, my leader, and benefactor.

Ayobami Adegboyega Ladipo
(Mr Porsche)

Continue Reading

BIG STORY

Tinubu Confirms Killing of ISIS Leader In Nigeria-US Joint Operation

Published

on

President Bola Tinubu has announced the killing of a senior Islamic State leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, during a joint operation carried out by Nigerian and United States forces in the Lake Chad Basin.

In a statement personally signed on Saturday, Tinubu said the operation marked “a significant example of effective collaboration in the fight against terrorism” between both countries.

The President said Nigerian troops, working with the US Armed Forces, carried out “a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.”

He added that “early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.”

Tinubu described the operation as a major step in advancing the security objectives of both countries and commended the forces involved for their conduct.

“Nigeria appreciates this partnership with the United States in advancing our shared security objectives. I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort,” the statement read.

The President also praised military personnel from both countries, saying, “I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.”

The development comes amid renewed military offensives against insurgent groups operating in the North-East and the Lake Chad region, where Islamic State-linked factions have sustained attacks on military formations and civilian communities.

United States President Donald Trump had earlier confirmed the operation, describing Al-Minuki as “the most active terrorist in the world.”

“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump wrote on Truth Social on Friday.

Trump said the slain militant leader, whom he described as the “second in command of ISIS globally,” had believed he could evade capture in Africa.

“Abu-Bilal al-Minuki, second in command of ISIS globally, thought he could hide in Africa, but little did he know we had sources who kept us informed on what he was doing,” he said.

The US leader added that Al-Minuki, who was placed under American sanctions in 2023 over his ties to the Islamic State group, would “no longer terrorize the people of Africa, or help plan operations to target Americans.”

He further stated that “with his removal, ISIS’s global operation is greatly diminished,” while thanking the Nigerian government for its “partnership” in the operation.

The joint operation underscores growing security cooperation between Nigeria and the United States as both countries intensify efforts to weaken extremist networks operating across the Lake Chad Basin and the wider West African region.

Continue Reading

BIG STORY

ISIS Second-in-Command Killed By US, Nigerian Troops —– Trump

Published

on

US President Donald Trump says Abu-Bilal al-Minuki, the second-in-command of ISIS, has been killed in Nigeria.

Trump said al-Minuki was killed in a “complex mission” carried out by Nigerian and American troops.

The US president shared updates on the operation in a social media post in the wee hours of Saturday.

“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump wrote.

“Abu-Bilal al-Minuki, second in command of ISIS globally, thought he could hide in Africa, but little did he know we had sources who kept us informed on what he was doing.

“He will no longer terrorise the people of Africa, or help plan operations to target Americans.

“With his removal, ISIS’s global operation is greatly diminished.”

Trump also acknowledged and thanked the Nigerian government for its “partnership on this operation”.

US-NIGERIA MILITARY COOPERATION

Nigeria had entered into a military partnership with the United States following Trump’s re-designation of the West African nation as a country of particular concern (CPC).

It was reported in February that a drone refuelling station was among the demands made by the US as part of the security partnership.

In March, the US deployed multiple MQ-9 drones alongside 200 troops to Nigeria to provide training and intelligence support to the country’s military in its fight against Islamist militants.

The Defence Headquarters had said the Nigerian troops, alongside the US forces, would commence a series of joint training engagements and intelligence-focused cooperation initiatives.

SECOND HIGH-PROFILE US OPERATION IN NIGERIA

Late last year, the US began conducting intelligence-gathering flights over swathes of Nigerian territory.

On Christmas Day, the US launched missile strikes on two terrorist enclaves in the Bauni forest in Tangaza LGA, Sokoto state.

It was widely reported that the strike involved more than a dozen Tomahawk cruise missiles fired from a Navy ship in the Gulf of Guinea.

But officials familiar with the operation told TheCable that the strikes involved drones.

Communities in Sokoto and Kwara states had reported explosions at the same time the US launched a fusillade of air strikes on ISIS terrorists.

The federal government later confirmed that the explosions in Kwara were caused by debris from the precision-guided munitions (PGMs) fired by the US.

Continue Reading


 

 


 

 

 

 

Join Us On Facebook

Most Popular


Warning: Undefined array key "slug" in /home/porsch10/public_html/wp-includes/class-wp-theme-json.php on line 2117

Warning: Undefined array key "slug" in /home/porsch10/public_html/wp-includes/class-wp-theme-json.php on line 2117

Warning: Undefined array key "slug" in /home/porsch10/public_html/wp-includes/class-wp-theme-json.php on line 2117