Festus Ahon, ASABA
THE Co-Chairman, National Assembly Joint Committee on Petroleum Industry Bill, PIB, Mr Muhammad Mongono, Tuesday, said oil-producing communities deserved more than 2.5% equity shares from revenues accruing from oil companies in the Niger Delta region.
Mongono stated this when the Delta State Deputy Governor, Mr Kingsley Otuaro took him and members of the committee on an oil degradation assessment visit to Benikrukru Community, Abiteye Flow Station OML 49 in Warri South-West Local Government Area of the State.
He said the Joint Committee was not averse to the demand by the Niger Delta region for increment in the contribution of 2.5 per cent of the Operating Expenditure (OPEX) of companies to five per cent.
He held that the essence of the visit was for them to see the level of degradation occasioned by the exploration and exploitation of oil in the oil-producing communities with a view to taking necessary legislative steps towards ameliorating the…
Source: Vanguard Newspaper
