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Imo predicts boom over 43 oil wells recovered from Rivers

Imo State Governor, Hope Uzodinma,

The Imo State Government on Monday said it had recovered 43 oil wells hitherto ceded to the neighbouring Rivers State.

The Coordinator for Petroleum and Gas Matters to the Governor, Goodluck Opiah, who spoke in Owerri, said that the economy of the state was looking bright.

According to Opiah,  22 oil wells were recovered from the Mgbede Field in Egbema, Ohaji/Egbema Local Government Area, and 21 oil wells from the Akri Field in Oguta LGA.

He reveled that the development had placed the state as the 4th largest oil producing State in the country.

Opiah noted that the recovered 43 oil wells would improve the revenue of the State, adding that the recovered 43 oil wells signified the preparedness of the governor to correct the ills of the past.

He said, “The oil wells were hitherto ceded to Rivers State. The ugly situation affected the revenue base of the state as we were recorded as one of the lowest oil producing states in the country. But with the recovery of the 43 oil wells, the story has changed, as we have become the 4th largest oil producing state.”



The Nigerian Communications Commission has earned over N150 bn from spectrum license fees within the first five months of 2021, surpassing its projected revenue of N36 bn. titled ‘NCC surpasses revenue projection, post N150bn spectrum fee in five months’ issued on Sunday by NCC’s Director of Public Affairs, Dr Ikechukwu Adinde.

Adinde said, “The figure represents over 400 per cent increase in revenue budget performance in respect of spectrum fees generated by the commission between January 1 and May 31, 2021, reflecting significant contribution to the revenue drive of the Federal Government.

“Accordingly, the N150bn spectrum revenue achieved in the first half of the year has been remitted to the Federal Government in line with the provisions of the Nigerian Communications Act, 2003, which mandates the commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund.”

The press statement added that NCC’s Executive Vice Chairman, Prof. Umar Danbatta, attributed the revenue boost to a favourable turn of events for the telecom sector.

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