By Dipo Olowookere
The search for crude oil in the Chad Basin has been suspended by the Federal Government following attacks by suspected Boko Haram members, which led to death of some explorers.
Minister of State for Petroleum Resources, Mr Ibe Kachikwu, who announced the suspension during a chat with newsmen, said oil exploration would return in the area as soon as government was sure of safety of lives and properties.
Mr Kachikwu, who declined to confirm actual number of casualty, disclosed that the military was still collating data concerning the attack.
He described the incident as unfortunate and commiserated with families of those killed while searching for oil in the area in Borno State.
Borno State, for many years, has been very volatile due to activities of Boko Haram members, who carry out different bomb attacks.
On Tuesday, the terrorists group attacked members of the Frontier Exploration Services/Surface Geochemistry sampling team comprising Nigerian National Petroleum Corporation (NNPC), Consultants from University of Maiduguri, military and civilian escort in the Magumeri area of Borno State.
The team was ambushed by Boko Haram while returning to Maiduguri town after conducting survey mapping/geological study of part of the Lake Chad Basin in preparation for seismic activities.
more recommended stories
Exchange Rates Stable at Major FX Windows
By Adedapo Adesanya The Naira closed.
Value of Stocks at NASD Exchange Remains at N509bn
By Adedapo Adesanya Trading activities at.
Renewed Output Cut Talks Push Brent Closer to $35
By Adedapo Adesanya Brent Crude went.
NAICOM Rolls Out Forbearance Measures for Insurers
By Adedapo Adesanya The National Insurance.
FIRS Grows Q1 Revenue by 7% to N1.1trn
By Adedapo Adesanya The Federal Inland.
Listed Firms Must Disclose Impact of COVID-19 on Operations—SEC
By Modupe Gbadeyanka The Securities and.
CBN’s OMO Bills Get COVID-19 Treatment as Traders ‘Stay Home’
By Dipo Olowookere As anticipated, the.
Dangote Cement Lifts Stock Market by 0.10%
By Dipo Olowookere Trading activities at.