Exclusive: Nigeria To Sell Oil Wells Worth 2.5billion Dollars

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Exclusive: Nigeria to sell oil wells worth 2.5billion dollars

By Patrick Ledum

There are plans by the Nigerian government to sell some oil blocks to foreign and local investors, Irohinoodua was informed exclusively today.

The total cost of the oil blocks is 2.5b dollars, sources said.

A legal firm, the Principal Partner,
ID. Omoridion and Co, attorney and propery consultants have the given the right to sell off the oil blocs.

Our correspondent in Abuja was informed that the following oil blocks have been put up for sale:

They are OML 24, OML 98, OML 122, OML 110, OML 88, OML 62, OML 11, OPL292 and OPL 258 (for J.V)

“Upon meeting procedures and guidelines, the oil blocks are closable within two weeks. Our office has been officially mandated as consultants to facilitate, for investment and closure of the oil blocks. In case of foreign investors, Unpon meeting procedures, letter of invitation and landing clearance shall be granted to the investors by the appropriate authority solely for the transaction purpose” the legal firm stated in a document obtained by our correspondent.

The sale of Nigerian oil wells has been a subject of deep concern to many stakeholders. In the past, the oil wells have been sold without consultation with indigenous peoples of the Niger-Delta where much of Nigerian oil wells are located.

“We have seen continuously these oil wells sold through dubious means. The process traditionally lack transparency and are used for cheap political scores”, Lagbara Ogon, an Ogoni activist told our correspondent on Sunday.

He urged the Federal authorities to ensure all sale of oil wells are done with uthmost consideration for the indigenous people who live in extreme poverty in the face of huge resources.

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