The Minister of State for Petroleum Resources, Timipre Slyva says about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria.
Sylva made this known at a news Conference to end the 2020 Nigeria International Petroleum Summit, NIPS in Abuja.
According to the minister, a lot of oil is yet to be found in the country. He added that there was need for more exploration in the country as more oil would be discovered.
Commenting on passing of the Petroleum Industry Bill, PIB by June, he expressed confident that it would be passed based on cordial relationship between the legislature and the executive.
He noted that investors could not invest in Nigeria if the fiscal framework was shaking or uncertain.
On revamping of the refinery, Sylva said rehabilitation of
Port Harcourt refinery would start in the first quarter of 2020.