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Geo-Fluids Charts Bold Comeback, Rebrands for Bitumen and Solid Minerals Future

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Strong resolutions aimed at reviving Geo- Fluids Plc, a company that has been dormant for more than a decade dominated discussions at the Annual General Meeting (AGM) held in Abuja, as shareholders and board members charted a new strategic direction focused on bitumen exploration, solid minerals, and broader extractive opportunities.

Speaking at the meeting, former Minister of state for solid minerals, Abubakar Bawa Bwari expressed confidence that the company was on the path to recovery, citing the pedigree and experience of its leadership.

He said the priority going forward is to “bring the company back to life,” ensure seamless operations, and ultimately restore value to shareholders.

“With the calibre of people on the board and the pedigree of our chairman, expectations are understandably high,” Buhari said.

“To whom much is given, much is expected. Our responsibility is to bring cheers to our shareholders and advise government appropriately to support the sector.”

A major highlight of the AGM was the company’s renewed focus on bitumen exploration in Ondo State, which Buhari described as one of Africa’s richest bitumen belts. According to him, Ondo hosts some of the largest and most accessible bitumen deposits on the continent, with reliable geological data significantly reducing exploration risks.

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“Ondo is very rich in bitumen, among the best deposits in Africa and indeed globally,” he said. “With the commitment being shown by the chairman, extensive exploration will take place. I encourage Nigerians to invest in bitumen production, though it requires patience and substantial capital.”

Former Minister of Power and Steel, Murtala Aliyu, said the resolutions adopted at the AGM were deliberately designed to resuscitate the company and reposition it for growth after years of inactivity.

“The company has been down for over a decade. What we have done today is to wake it up and place it on the right pedestal,” Aliyu said.

He explained that the company’s rebranding and restructuring, including the adoption of a new group identity, was informed by its expansion beyond oil servicing. According to him, the new structure allows for diversified operations in bitumen refining, other petroleum derivatives, and solid minerals such as lithium.

“We are no longer limiting ourselves to oil servicing,” he said. “We want to explore and exploit bitumen, refine it into usable products, and also venture into other mining sectors. That is why we now have different groups under one umbrella.”

Aliyu also addressed the challenge of illegal mining in Nigeria, noting that it is a global issue that requires country-specific solutions based on effective regulation and enforcement.

On his part, Suleiman Hassan, a former Minister of Environment and board member, said the company’s reorganization would enable it to participate fully in the exploration, exploitation, and marketing of bitumen and related products.

“We are resuscitating the company and repositioning it to play a more active role in the extractive industry,” Hassan said.

He stressed that environmental protection remains a core priority, particularly in the context of climate change and growing global concerns about environmental degradation.

“That is why people with environmental expertise are on the board,” Hassan said. “Before any activity begins, strict guidelines will be followed to prevent pollution, protect host communities, and ensure emergency response mechanisms are in place.”

The AGM ended with optimism among shareholders that the new resolutions, leadership drive, and strategic focus on bitumen and solid minerals could mark a turning point for the company and contribute meaningfully to Nigeria’s resource diversification agenda.

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JUST IN: Court Orders FCT Workers to Suspend Strike, Grants Wike’s Injunction

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By Yusuf Danjuma Yunusa

The National Industrial Court in Abuja has issued an order compelling striking workers of the Federal Capital Territory Administration (FCTA) to suspend their industrial action immediately.

The order was granted on Tuesday following an interlocutory injunction filed by the FCT Minister, Nyesom Wike, and the FCT Administration against the leadership of the workers’ Joint Union Action Committee.

Presiding Judge, Justice E.D. Subilim, ruled that while the case constituted a legitimate trade dispute, the workers’ right to strike is not absolute. He emphasized that once a dispute is formally referred to the National Industrial Court, any ongoing strike must cease pending the court’s final determination.

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“An order of interlocutory injunction is hereby granted, restraining the defendants and their representatives from further embarking on any industrial action,” Justice Subilim stated. “This order shall remain in force pending the determination of this suit.”

The suit (NICN/ABJ/17/2026) names the Union Chairman, Rifkatu Iortyer, and Secretary, Abdullahi Umar Saleh, as defendants. It seeks to restrain the union and its members from any form of industrial action, picketing, or lockout.

The court has adjourned the hearing of the substantive suit to March 23, 2026.

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Troops Uncover Illegal Fire Arms Factory in Nasarawa State

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By Yusuf Danjuma Yunusa

Troops from Sector 2 of the Joint Task Force, Operation Whirl Stroke (OPWS), have uncovered and dismantled an illegal arms manufacturing facility in Agwatashi, Doma Local Government Area of Nasarawa State.

The discovery was confirmed in a statement on Monday by Lt. Ahmad Zubairu, Acting Media Information Officer for the JTF OPWS.

While conducting a routine patrol from the Forward Operating Base in Idadu, troops identified a concealed location suspected of housing illegal weapons production. Upon the approach of security forces, several individuals fled the scene.
One suspect, identified as 26-year-old Baba Ogar from Arusu Village in Kokona LGA, was apprehended after attempting to hide in a tree.

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Items Recovered are: six (6) locally fabricated pistols; assorted tools and instruments used for weapons manufacturing; The sum of ₦40,500, and One mobile phone.

Preliminary investigations indicate that the facility served as a production hub supplying firearms to criminal networks operating within and beyond the region.
The apprehended suspect is currently in custody. Investigations are ongoing to track down his fleeing accomplices.

The Force Commander of OPWS, Maj.-Gen. Moses Gara, commended the troops for their professionalism, vigilance, and sustained operational efforts that led to the discovery. He urged them to maintain momentum and continue employing intelligence-driven operations to dismantle criminal networks across the Joint Operations Area.

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NNPC Ltd Commends Chevron Nigeria Ltd on Successful Awodi-07 Discovery

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The Nigerian National Petroleum Company Limited (NNPC Ltd) has congratulated Chevron Nigeria Limited (CNL), operator of the NNPC Ltd/CNL Joint Venture, on the successful completion of the Awodi-07 appraisal and exploration well located in the shallow offshore western Niger Delta.

The Awodi-07 well was drilled as part of the Joint Venture’s ongoing efforts to further delineate and unlock hydrocarbon potential within its asset portfolio. Drilling operations commenced in late November 2025 and were concluded in mid-December 2025, with all activities executed safely, efficiently, and in strict compliance with approved operational and regulatory standards. Following the completion of comprehensive testing, logging, and data acquisition, the well was safely secured, bringing the programme to a successful close.

Results from the well are highly encouraging, confirming a significant presence of hydrocarbons across multiple reservoir zones. This outcome represents a notable milestone for the NNPC Ltd/CNL Joint Venture,on strengthening confidence in the underlying asset and reinforcing the prospectivity of the area. The success of Awodi-07 further highlights the effectiveness of disciplined exploration, sound technical evaluation, and the strong operational collaboration between NNPC Ltd and its Joint Venture partner.

Commenting on the achievement, the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, commended Chevron Nigeria Limited for its operational excellence, technical competence, and consistent delivery of value.

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He stated: “The success of the Awodi-07 well further reinforces the strength of the NNPC Ltd/CNL Joint Venture and our shared commitment to responsibly growing Nigeria’s hydrocarbon reserves. This achievement aligns squarely with our strategic priorities of increasing production, enhancing national energy security, and delivering sustainable value for the Nigerian people.”

Also speaking on the milestone, the Executive Vice President, Upstream, NNPC Ltd, Mr. Udy Ntia, described the Awodi-07 results as a clear demonstration of the value of sustained collaboration, technical rigour, and a stable, enabling operating environment.

According to him: “This discovery underscores the importance of disciplined exploration programmes, strong partnerships, and the positive impact of the reforms introduced under the Petroleum Industry Act. We look forward to working closely with Chevron Nigeria Limited to mature this opportunity and progress it towards timely development and monetisation.”

NNPC Limited and Chevron Nigeria Ltd work together under a joint venture agreement to operate several oil and gas fields in Nigeria’s Niger Delta. In this partnership, Chevron owns 40 per cent of the assets, while NNPC Limited holds the remaining share. The arrangement allows both companies to combine resources, expertise, and investment to develop Nigeria’s oil and gas resources more effectively.

Through this collaboration, the partners aim to increase oil production to about 146,000 barrels per day, which would support government revenue, create jobs, and contribute to the country’s energy supply.

Signed:
Andy Odeh
Chief Corporate Communications Officer
NNPC Ltd
26th January 2026

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