 for oil exploration in Northern Nigeria has sparked){kind=link}
By Wakiliya
The Federal Government’s decision to suspend the use of the Frontier Exploration Fund (FEF) for oil exploration in Northern Nigeria has sparked criticism from some stakeholders in the energy sector.
According to Wakiliya sources, Executive Order No. 9, signed by President Bola Ahmed Tinubu, redirects funds previously allocated for oil exploration in the Bida Basin, Benue Trough, and Gongola Basin to the Federation Account.
Industry experts have warned that the move could slow efforts to discover new oil reserves and undermine plans to expand Nigeria’s petroleum industry into underexplored northern regions.
Some stakeholders also expressed concern that the decision could create uncertainty for investors, potentially limiting economic growth and reducing job opportunities in the affected areas.
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