 The former director general of the Nigerian Maritime Administration and Safety Agency, Nimasah, has stated that oil exploration should be a private sector activity. He said this earlier on plus politics while speaking about the 30% allocated to the Frontier Basin Exploration Fund by Nigerian lawmakers. It's not about exploration in the Niger Delta, it's about the fact that oil exploration whether in the Frontier Basin, in the deep sea, unsure should be a private sector activity. It shouldn't be the primary concern of government. Now it is a profit-oriented venture and the best government should do is to provide some basket of incentive. Listen, if you do exploration and you find oil, we're going to give you the following concession. In other climes, that's what's done. Not for government itself to fund exploration, but even that model of government funding exploration, why do we need to put cumulatively 30% of our earnings on Frontier Exploration? So what it means is that if we put that fund and at the end of the day, now what happens is that government bureaucracy will continue to feast on the fund and they will find no oil. Every year you give them 30%, 10% from the profit of AMPC and 20% from all the other collectives that you put together in a basket. Every year they will go out for exploration and they will never find oil. It isn't simple, they are comfortable having 30% of that fund but if you make it a commercial venture, a private sector venture, it is in their interest to find oil as soon as possible because that's what it is. So, hope you enjoyed the news, please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.