By Abdullahi Mukhtar Algasgaini
The Federal Government has initiated steps to resume exploration activities at the long-stalled Kolmani Oil Field in Bauchi State, following an assessment visit by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to evaluate the project’s current status.
The RMAFC Chairman, Muhammad Bello, disclosed this on Monday during a verification exercise at the oil field, stating that the commission’s primary objective is to determine the necessary steps for the project’s remobilisation.
“This verification is crucial to assess the state of the project and advocate for its continuation,” Bello said. He noted that the commission is committed to ensuring that the oil field, which holds significant potential for boosting Nigeria’s revenue base, does not remain inactive.
The Kolmani Oil Field, discovered in 2019, was heralded as a major breakthrough for the region, with the potential to transform the economic landscape of the North-East. However, exploration activities stalled due to a combination of technical challenges and funding constraints.
The RMAFC’s intervention is seen as a critical move to re-energize the project, as the commission plays a key role in monitoring revenue-generating ventures. Officials on the verification team are expected to submit a comprehensive report that will guide the federal government’s strategy for restarting full-scale operations. The government has reiterated its commitment to diversifying the nation’s oil assets and unlocking the hydrocarbon potential in the inland basins.
