Gombe State Government says it has signed a Memorandum of Understanding (MoU) with Rift Petroleum Company Ltd, to accelerate hydrocarbon exploration and production in the state.

Gov. Inuwa Yahaya stated this in a statement by his Director-General, Press Affairs, Mr Isma’il Misili, on Tuesday in Gombe.

Yahaya said that the MoU would accelerate oil and gas exploration in the Kolmani field especially with the signing of the Petroleum Industry Act (PIB) and the clamour by some states to collect the Value Added Tax (VAT).

He decried lack of political will on the part of the previous administrations to explore the abundant mineral resources for the benefit of the people of the state, adding that trend was responsible for its current economic predicament.

The governor said that his administration had adopted deliberate steps to open up the state for industrial advancement through collaboration with genuine investors aimed at harnessing abundant resources towards actualising the goals of its development programmes.

He said that he had intimated President Muhammadu Buhari on the need for the Nigeria National Petroleum Corporation (NNPC) and other relevant agencies to expedite action on oil and gas exploration in the state.

The governor also expressed confidence in the ability of Rift Company to deliver on the terms of the agreement, considering its track record in the oil and gas industry.

“The need for us to explore and get maximum benefit from our God-given natural endowment is imperative now having realised how much ground we have lost in that direction.

“The benefits from such huge investments to the state and country cannot be quantified.

“The MoU signed with NNPC on development of biofuel technologies and the N16.4 billion Muhammadu Buhari Industrial Park.

“And the proposal by Madugu Cement to establish a cement factory in Kembu and Kwali of Akko and Yamaltu Deba LGAs are indication of Gombe State’s vision and readiness in investment drive,” the governor was quoted as saying in the statement.

While calling on the host communities to cooperate with the investors to facilitate smooth take off of their operations, Yahaya said that had proactive steps had been implemented to guard against negative experiences associated with oil and gas exploration.

The statement also quoted Mr Rabiu Suleiman, Chairman of the company, as saying that hydrocarbon deposits were discovered in large commercial quantities at Kolmani area of the state.

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Suleiman said that the MoU would fully captured the interest of the host communities and government to avoid the experiences of the Niger Delta people.

He said that the state would benefit in the area of job and wealth creation, commercial activities and infrastructural development.