The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment.

The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation.

Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained poor despite playing host to critical national assets; regretting that instead of IOCs to ensure full implementation of the PIA, they were on the move to divest.

He assured that the committee would use the law to ensure that those companies do not leave until they correct all the wrongs they have done in their host communities.

According to him, the team understands that many IOCs have started divesting from offshore, but noted that the House would not allow the process to be completed without responsibility.

He said, “I understand that some of them (IOCs) are beginning to divest very quickly, we will also make sure that we stop some of those divestments so that the people can benefit.

“Take for example, you cannot mess up an environment, degrade it to the level that it is, and then suddenly you begin to divest. When you divest you leave all that you have done and walk away.

“This committee will liaise and form partnerships with those affected host communities, to make sure that whether Shell or any other oil company are brought to account. We want people from host communities to begin to reap the benefits of oil and gas.”

The Committee also noted that the Host Community Development Trust implemented by some oil firms was not functional, explaining that oil-producing communities in Niger Delta have not started getting benefits from the PIA.

He said: “By the enactment of the PIA in 2021, this is 2023 and we have not seen the host communities stop complaining, meaning that the HCDTs are not operational.

“In most cases where they (oil companies) claim that they have inaugurated the HCDT, they have not started getting the benefit of the law and it leaves the people of host communities in the same way they have always been, and of course as a committee, we will stop at nothing in ensuring that the law is being obeyed.

“This means that all the regulatory agencies and oil companies must as a matter of urgency begin to take appropriate steps in ensuring that host communities are not allowed to continue wallowing in abject poverty, while they produce all that we need to oil the engine of the country, yet they have nothing to show for it.

“That is why the House and Senate came together to ensure that that law came into being. Yes, as I said, the PIA is not completely addressing the issues, just like every other law, but it is a watershed where we begin to feel that something has been put in place to guide the entire operations of the oil industry, and so it is an opportunity to call on NUPRC and all other regulators to ensure the oil companies do the right thing.”

FreeStuffsNG:




https://businesspost.ng/economy/house-of-reps-to-halt-iocs-from-selling-oil-assets/

Jestin:
Instead of Asari Dokubo to speak up about the development of Niger Delta, he is busy looking for position in Abuja

FreeStuffsNG:
He said, “I understand that some of them (IOCs) are beginning to divest very quickly, we will also make sure that we stop some of those divestments so that the people can benefit.

It seems that there is something in that PIA, 2021, as passed by the National Assembly, that the IOCs are running away from apart from the long years of sabotage of their pipelines and other assets by their host communities. Equinor just announced its own divestment this week and assets bought by indigenous oil company.

Incidentally, the new Nigerian buyers don't bother as much as the IOCs. There was a time one of the assets AITEO acquired from shell around Nembe was vandalised, the Nigerians left the crude oil continue to flood for weeks until they piled pressure on them to fix it albeit reluctantly.

We need a mix of both IOCs and indigenous players particularly because the IOCs bring in fresh capital. There should be more engagement with them. I learnt Shell is demanding guarantee that some clauses in the PIA and local content act must be waved for it before it can bring in capital to develop a major field.

I think the President should look at the law again and engage them further then consult the National Assembly for possible amendments.

The way things are going, if not addressed, the oil producing communities complaining of not receiving enough may not have anything to receive anymore.

The House of Reps member just admitted that there are issues with the PIA, you guys should fix it for national interest sake nah.

Which clauses in both PIA and Local Content Act do the IOCs see as disincentive? Please share if you know. Thank you.
God bless Nigeria for ever! Check my signature for free stuffs!

Zeebuy:
My uncle has an oil servicing firm and I used to follow him to the creeks while they do oil spill cleanup.

Things I saw there, I weep for the Niger Delta.

Ekpeitut:


If after 67 years of oil discovery in Nigeria law-makers are making these statements about oil communities benefitting from the proceeds of oil and gas, Nigerians ought to realise that we have the worst, self-centered, fantastically corrupt and the lowest I.Q bearing leaders heading the affairs of our country.

There should be outrage and public anger by the masses. Do we even understand what 67 years of oil exploration mean??

The United Arab Emirates where you have Dubai had their oil discovery 2 years after Nigeria did and we all know how glorious Dubai is today, while Nigerians still lack the minimum and most basic of life's necessities.

The fricking same oil money they have, we have!

What did our leaders do with all the taxes, sales and royalties since oil discovery and exploration began in Nigeria!!!

These are the questions we should be asking not this APC, PDP, Yoruba, Igbo ish they keep pushing at us to distract us from the ugly truth.

Chetas81:
POOR OPEC COUNTRY, NIGERIA IS THE POOREST AMONG THE OPEC COUNTRY

Coldie:

I keep saying this to people who keep talking about our population, if majority of ur population is poor and poverty stricken it’s useless calling it a market

Coldie:

I keep saying this to people who keep talking about our population, if majority of ur population is poor and poverty stricken it’s useless calling it a market