ADVERTISEMENT
The Sun Nigeria
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Ley Your Dreams Come Alive – With FCMB Loans
Home National

FG commissions N360m multi-tech core drilling equipment

24th September 2018
in National
0
DRILLING
0
SHARES
217
VIEWS
Share on FacebookShare on Twitter

Samuel Bello, Abuja

The Federal Government, on Monday, inaugurated two recently purchased N360million state-of-the-art multi-tech core drilling rigs approved by the Federal Executive Council (FEC) for the collection of geoscience data.

Minister of State for Mines and Steel Development, Abubakar Bwari, who performed the commissioning in Abuja, said the equipment could go down to 1.5 kilometres to rig mineral products, adding that apart from mineral drilling, it could also drill boreholes for water consumption.

Bwari explained that Nigeria needs geoscience data to attract investors and big mining companies into the country. He said Nigeria was on the path of coming back to where it should be 60 years ago when mining operations started in the country.

READ ALSO: Plateau APC queries Yahaya Kwande for alleged anti-party activities

“We just commissioned our rigs that the FEC approved for us. Their main function is to do core drilling to collect geological data and this is the first time we are having a rig of this nature. This is a rig that can go down to 1.5 kilometres and can do a lot of things apart from getting geological data, talking about minerals, they can also be used for effective drilling of boreholes. It can also be used with something we are just doing research on geothermal energy.

‘It is a rig that is multipurpose and for a very long time we have been looking for an opportunity to have a rig and I believe the challenge to our geologist now to generate the data for our mining sector because this sector cannot thrive without data and investors would only come to a country where they know there is a bankable data.” he added.

He stated that the rigs, because of their nature, could lead the nation to getting the data required for the mining sector.

According to him, the Federal Executive Council (FEC) approved about N360 million to buy the rigs. The attention to this sector was not there for a long time and we can all see how bad the situation was, for a rig of less than N360 million, we are talking of two rigs, we couldn’t buy them.

“The Federal Government approved funds to buy these two rigs. It was clear that it was not enough, but based on dictations by the National Assembly, we were only able to buy two, but we would convince the National Assembly to allocate funds to purchase more rigs and I believe the National Executive Council (NEC) would not hesitate to approve more rigs for us.”

READ ALSO: Mining: NIMG has our full support, says FG

Director-General of Nigeria Geological Survey Agency (NGSA), Alex Nwegbu, said for more than 30 years, the agency has been looking forward to a day like this and said in most cases when the agency plans two weeks for drilling projects, it would spend two months.

Nwegbu said without the support of the minister who allocated funds for the project, it could not have been a reality.

He said, “It is one thing that would upscale the activities of NGSA and it would also generate revenue because a lot of companies need high capacity rig that can reach the depth.

“We want more rigs and it can only come from the minister when he allocates more funds and we would in the process get the geoscience data we have been waiting to realise.

“Many of them are approaching and saying we want to engage your rigs, other mining companies are also approaching, so it is an avenue to generate revenue.”

 

 

 

Tags: core drilling rigsfederal executive councilgeoscience dataNigeria Geological Survey Agency
Segun Adio

Segun Adio

Related Posts

Refugees Commission opens library for IDPs in Abuja
National

Refugees Commission opens library for IDPs in Abuja

25th June 2022
National

The Sun Editor, others task staff on improved productivity, professionalism

25th June 2022
Imo opposition leaders commend Uzodimma’s efforts
Business

Kebbi Customs intercepts smuggled 2, 820 donkey skins worth N48.1m

25th June 2022
Next Post
ORTOM

Ortom directs immediate disbursement of Paris Club refund

BUHARI

Buhari orders payment of N22.68b to ex-Airways workers

nussa

13th NUSSA Games begins at UNILORIN

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

The igwes, honest advice to bachelors, spinsters: Be careful you don’t marry another person’s spouse

The Sun Editor, others task staff on improved productivity, professionalism

Kebbi Customs intercepts smuggled 2, 820 donkey skins worth N48.1m

Real reasons South-East failed to pick APC presidential ticket –Osita Okechukwu

2023: Nigerians should vote for who‘ll unite the country–Ucheaga

Woman overpowers armed robber in Abia

Trending

Winning with the Nigerian spirit
Columns

Tinubu inside Fashola’s book

25th June 2022
0

If you want to read the mind of APC Presidential candidate, Asiwaju Bola Tinubu as a strategist, the...

Okotie: Nigeria’ll break up if i don’t succeed Buhari

Okotie: Nigeria’ll break up if i don’t succeed Buhari

25th June 2022
Refugees Commission opens library for IDPs in Abuja

Refugees Commission opens library for IDPs in Abuja

25th June 2022
The igwes, honest advice to bachelors, spinsters: Be careful you don’t marry another person’s spouse

The igwes, honest advice to bachelors, spinsters: Be careful you don’t marry another person’s spouse

25th June 2022

The Sun Editor, others task staff on improved productivity, professionalism

25th June 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Tinubu inside Fashola’s book
  • Okotie: Nigeria’ll break up if i don’t succeed Buhari
  • Refugees Commission opens library for IDPs in Abuja
  • The igwes, honest advice to bachelors, spinsters: Be careful you don’t marry another person’s spouse
  • The Sun Editor, others task staff on improved productivity, professionalism
  • Kebbi Customs intercepts smuggled 2, 820 donkey skins worth N48.1m
  • Real reasons South-East failed to pick APC presidential ticket –Osita Okechukwu
  • 2023: Nigerians should vote for who‘ll unite the country–Ucheaga
  • Woman overpowers armed robber in Abia
  • Peter Obi unveiled
  • Rev. Fr. Peter Olowolafe, chairman, CAN, Ekiti State: Being CAN leader taught me about other Christian denominations
  • Why I supply weapons to bandits – Kaduna councillor
  • 2023: Peter Obi’s chances bright – Igbo leaders
  • Lagos spends N23bn on upgrade of infrastructure
  • Exploiting the core values of mediation for societal good
  • Uzodimma inaugurates boards of university, college of education
  • Tinubu hails Sanwo-Olu at 57
  • Amosun, not Abiodun, received N37b road project refund – Ogun govt
  • CBN Under Godwin Emefiele targeting inclusive growth
  • The spell of happiness

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • Home
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.

Posting....