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PIB BILL: Oil producing communities deserve more than 2.5% equity shares Mongono
On
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.
By Sylvester Idowu
As part of its Corporate Social Responsibility, the Nigeria National Petroleum Development Company(NNPC)/Chevron Nigeria Limited (CNL) Joint Venture disclosed that it has contributed over N7 billion to the Egbema and Gbaramatu Communities Development Foundation (EGCDF) since its creation in 2005.
The General Manager, Policy, Government and Public Affairs (PGPA) of CNL, Mr Esimaje Brikinn, made the disclosure during the 10th Annual General Meeting of EGCDF at Effurun near Warri, Delta State, recently.
Brikinn, who was represented by Mr. Sam Daibo, Area Manager, Field Operations, said the contribution was a manifestation of CNL/NNPC JV commitment to the terms of the Global Memorandum of Understandings (GMoU) between it and the Foundation.