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Give 65% ownership of oil wells to South-South, South-East - lawmakers insist

The South-East and South-South lawmakers have called on the Federal Government to review the ownership structure of oil wells in the country to allow for at least, 65 per cent ownership by the people of the Niger Delta region.


The South- South and South-East states Houses of Assembly stated this when they rose from their inaugural joint session at the weekend in Owerri, Imo state. The joint session had in attendance speakers and deputy speakers of Abia, Akwa Ibom, Anambra, Bayelsa, Rivers, Cross River, Delta, Ebonyi, Edo, Enugu and Imo states.

They held that contrary to the present ownership structure where less than 10 percent of the oil blocks are owned by their people, the South-East and South-South people should possess at least 65 percent of the oil wells.

They stressed that this would facilitate rapid development of the region as the region’s development, according to them, is being hindered by the present payment mode of derivative oil funds.

According to the lawmakers: “Legislators of the Houses of Assembly in the South- South and South-East can no longer watch helplessly as our region drifts aimlessly while our people walk the razor edge under the strain of impoverishment, environmental degradation, insecurity and uncertainty on the one hand and the destruction of oil/gas installations and the attendant consequences including their impact on the ecosystem and the economy on the other hand.”

“There is an urgent need for the Federal Government of Nigeria to put in place adequate machinery that would ensure direct payment of derivative oil funds into the hands of Niger Delta Benefiting communities” the principal officers and members of the Houses of Assembly said.

They went on to urge the youth to shun confrontation, violence and militancy as a means of agitation for the redress of the zone, stressing that, “They must embrace dialogue and diplomacy and channel their grievances through various constituted platforms.”

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6 comments

  1. Would they listened to this?

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  2. Tough talk.Can they now work the talk if they aren't aren't carrying birds on their backs while sowing the maize

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  3. Will this work because this why people like OBJ stongly believe in one Nigeria as they have the whole oil wells among themselves . Recover these from them and one will be surprised to hear different tones from them .

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  4. i know that some people might not like this truth, but that's the only way militants will stop arising. I mean its unfair that someone will come from another region and impoverish them, owning the oil wells in their land will degrading their farm lands too. 65% is an understatement to my own thinking. lol in Russia, the state were the oil wells are located, are controlled by the indigenes of the region. same can be done in Nigeria's case. If you don't agree with me then #geraraheremen!!

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  5. Start by paying 65% of your salaries and allowances to pensioners, then you can table your resolution to the appropriate authority

    ReplyDelete

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