The Nigeria Upstream Petroleum Regulatory Commission, NUPRC, has promised bost communities of total compensation on environment damaged by oil spills.
The Commission’s Chief Executive, Gbenga Komolafe, spoke at the Olú of Warri maiden edition of the Iwereland Petroleum Host Communities Summit at Ajamimogha – Warri, Delta State,where he also said that defaulters would be sanctioned.
He said these in his presentation – The Implementation of the Host Communities’ Development Trusts In Oil-Producing Itsekiri Communities under the Petroleum Industry Act, 2021.
He added: “We are witnessing for the first time a concerted, deliberate, and focused effort by a highly revered monarch to create awareness and provide critical information that will empower Nigerian citizens within the host communities with the knowledge required to access the robust benefits provided by the Federal Government under the Petroleum Industry Act 2021.
“The Commission has concluded arrangements to ensure that the regulations guiding the implementation of the host community development fund under the PIA 2021 come into effect before the end of June 2022. The development will signal the commencement of seamless implementation of the host community development fund for the benefit of oil producing communities.”
Also speaking,the Olú of Warri, Ògíamẹ̀ Atúwàtse III, says enforcement of the Petroleum Industry Act (PIA) will ensure the benefits of oil production for all, reduce poverty and suffering among oil producing communities.
Atúwàtse III Warri,also said the Act will limit appropriation of wealth meant for the common good by individuals.
In his address titled “New Dawn,” according to a statement issued at the end of the summit, Ogíamẹ̀ Atúwàtse stressed that “the PIA is essentially an instrument, designed to cure the appetites of individuals who have become used to appropriating the commonwealth to themselves or mismanaging the wealth to the detriment of the destiny of the people.
“The primary purpose of the PIA is to assist in any developmental purpose, deemed beneficial to the host communities, as may be determined by the Board of Trustees; members of the Boards must invest part of the available funds for and on behalf of the host communities.
“This crucial role demands an equilibrium of High Performance and trustworthiness, as the parameters for effective operational excellence of the Boards. This is an engagement to promote awareness and enjoin the people, to participate actively and wisely in choosing their representation in the activation of this all-important act,” he stressed further.
The traditional ruler lamented that Nigeria’s oil production indices which he attributed to the low production rate, made worse by the massive crude oil theft and pipeline vandalism.
According to him, “Nigeria has the potential to produce about 2.3 million barrels of oil per day.
He said:“In the first quarter of 2022 alone, out of about 141 million barrels of oil produced, a total volume of about 9 million barrels of oil was lost to crude oil theft. This amounts to a loss in government revenue of about US$1 billion (at $116 per barrel), or about N434 billion (at CBN rate of N415/$), which is about 90% the size of Delta State’s budget of N479 billion for the 2022 fiscal year,” he lamented.
The monarch added that the driving spirit and recurring theme of the PIA, should be the inclusion and support of local initiatives for the security of the host communities, adding that each one should have equal access to not only opportunities. But resources, as would otherwise have been the case where some are marginalized or outright excluded from the wealth that belongs to us all.
“We intend that the Iwereland Global Masterplan will be so well put together, that all arms of government and intervention agencies become fully committed to being a part of that plan.We will discourage idleness and a sense of entitlement, while encouraging competence and all that brings added value to the effort.
“We assure government, companies, non-governmental organisations, and regulatory authorities, that we are well aware that our job is to make Iwereland more hospitable for business – whether Energy or otherwise – no matter the obstacles thrown our way” he stated.
