Mohammed Shosanya
Some stakeholders in the nation’s economy have implored the African Development Bank, The World Bank and Export Credit agencies to discontinue financing fossil fuel projects in Nigeria.
Rising from the 2nd People’s Annual General Meeting,which was convened by the Africa Network for Environment and Economic Justice (ANEEJ) on Tuesday,participants advised that multinational oil companies in Nigeria and their investors such as Blackrock, Vanguard, Legal and General Investment management, should take responsibility for loss and damage in the Niger Delta as recommended during COP27.
In a communique signed at the end of the meeting,the participants also urge the incoming administration to demonstrate the political will to end gas flaring in Nigeria.
The AGM re-stated its earlier call for the companies’ major investors to go to the Niger Delta for the fact-finding mission and resolved to undertake high-level advocacy to engage the investors and government currently supporting multinational oil companies in Nigeria.
The Norwegian Oil Fund and other investors should follow the example of The Church of England which made a commitment to vote against all directors at the upcoming AGMs of multinational oil companies in response to their failure to meet climate change objectives.
They also implored investors to conduct further research on the activities of oil companies ongoing in Kogi, Nasarawa, Gombe, and other parts of Nigeria, to promote learning and experience sharing between Niger Delta communities and other parts of Nigeria.
According to the participants,the Energy Transition Plan of oil companies should be in compliance with Paris Agreement on climate change and Climate Change Act, reflecting the perspectives of communities affected by decades of fossil fuel extraction.
They advised the Federal Government of Nigeria to should appoint a substantive chairman for the Governing Council of HYPREP, Hydrocarbon Pollution Remediation Project (HYPREP). to ensure consistency in the leadership.
The government, companies and other stakeholders should contribute to the remediation process by supporting the development and adoption of new technologies that can accelerate the Ogoni cleanup,the communique added.
The communique added:”We also call on HYPREP to embark on fullscale livelihood restoration programme for the Ogoni people.There should also be an unbiased investigation into the remediation process in Ogoni land as well environmental and health audits of the entire Niger Delta and a total cleanup of the region”.
The participants expressed concern over the divestment of oil companies from on-shore to off-shore without taking into consideration the environmental hazards and damages caused by their operations.
They noted that there are technical and governance issues with the cleanup of Ogoni land which is slowing down the process, and the lack of stability in the leadership of the governing Council of Hydrocarbon Pollution Remediation Project (HYPREP).
They further expressed concern over the new communities in Nigeria where oil fields are being developed, so as avoid the similar fate as communities in the Niger Delta.
