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Tuesday, August 16, 2011

Crude Oil discovered in Kwara State

The Kwara State The government has discovered crude oil in some communities within the Irepodun Local Government Area of the state. The discovery comes in the wake of the state’s proposal of solid minerals development and mining as key sources of internally generated revenue to fund development programmes in the state.
In a statement issued by the Senior Special Assistant on Media and Communications, Dr. Muyideen Akorede in Ilorin, Kwara State Governor, Abdulfatah Ahmed said the discovery was made by a farmer who discovered crude oil on his farm and seven other adjoining sites and alerted the State government. Subsequently geologists from the State Ministry of Industry and Solid Minerals were directed to confirm whether the substance was indeed crude oil, and if so identify the blend.
The governor said the ministry officials confirmed the substance as Bonny Light, a blend of high-grade crude oil preferred by European and American refineries due to its unique properties.

Governor Ahmed said the find has been verified through independent analysis by a private oil company and that further tests were being carried out to determine if the crude discovered was in commercial quantities.
In his statement, Governor Ahmed identified solid minerals development and mining as one of his administration’s key policy thrusts for driving development in the state, stressing that the sector had the potential to significantly boost Kwara’s internally-generated revenue by attracting foreign and indigenous investors to the state.
The Governor added that the finding was a welcome boost to the state’s economy and Kwara’s emerging reputation as one of Nigeria’s most conducive investment destinations.

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