Nigeria: The promise and the challenge of Kolmani
By Akpo Ometan
Nigeria recently announced the reported discovery of some more reservoir of crude oil in the country and this time the find is said to have been made at Kolmani in the North East of the country.
An enthused President Muhammadu Buhari, whose administration is steeped in collosal debts personally went over to flag off the site and commented that indeed this was good progress for the country.
The find is notable for many reasons. It is the first real, major one in the North of a geographically fractured country where the jostling for zonal advantage is high. So the expectation is that well managed, this could help buy some peace.
But it also has its issues of which the proper management of national resources and revenues and the laid back nature of economic organisation are critical. Nigeria has been drilling and selling crude oil since 1958 and its economic and social challenges remain. It needs more than finding some more crude oil to go where it wants to and should be going.