Oil & Energy
Don Charges Oil Firms On N’Delta Development
A university teacher and environmental sociologist, Dr Steve Wordu, has urged multionationals and other international oil and gas companies (IOCS) operating in the Niger Delta to commit their resources to the development of the region, as well as address the issues of poverty and unemployment prevalent in the area.
Dr Wordu disclosed this while speaking with The Tide, in an interview in Port Harcourt at the weekend.
He said the people of the region has lost their natural environment to pollution accruing from oil exploratory activities, which also cause severe health hazards to people.
Wordu, who is a lecturer in the University of Port Harcourt, decried a situation where most oil companies operating in the Niger Delta, are primarily concerned about commercial interest and gloss over the development of the communities where they operate.
“The story in the Niger Delta in Pathetic. It is regrettable that after several decades of playing host to Myriads of multinational companies, the Niger Delta still remains grossly under-developed. These companies are mostly concerned about what they can get out of the region and not how to develop the communities”, he said.
He called for a review of the corporate policies of the companies operating in the Niger Delta to be community driven, to give the people a sense of belonging.
He pointed out that the “Self serving” policies most of the companies operating in the Nigeria Delta was responsible for the brewing conflicts in the area, and urged the companies to enter into a binding social contract with the host communities.
He further called on the Federal Government to ensure the implementation of laws that enhance community participation in oil and gas development, urging that any company that flouts such community engagement policies should be sanctioned.
The environmentalists also called for stiffer penalties against the defilement of the natural environment and called for sincerity of purpose in the implementation of the cleanup of the Ogoni environment, in line with the recommendation of the United Nation Development Programme (UNEP).
Oil & Energy
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In the bid to revitalise the gas industry and stabilise power generation, President Bola Ahmed Tinubu has authorised the settlement of N185 billion in long-standing debts owed to natural gas producers.
The payment, to be executed through a royalty-offset arrangement, is expected to restore confidence among domestic and international gas suppliers who have long expressed concern about persistent indebtedness in the sector.
According to him, settling the debts is crucial to rebuilding trust between the government and gas producers, many of whom have withheld or slowed new investments due to uncertainty over payments.
Ekpo explained that improved financial stability would help revive upstream activity by accelerating exploration and production, ultimately boosting Nigeria’s gas output adding that Increased gas supply would also boost power generation and ease the long-standing electricity shortages that continue to hinder businesses across the country.
The minister noted that these gains were expected to stimulate broader economic growth, as reliable energy underpins industrialisation, job creation and competitiveness.
In his intervention, Coordinating Director of the Decade of Gas Secretariat, Ed Ubong, said the approved plan to clear gas-to-power debts sends a powerful signal of commitment from the President to address structural weaknesses across the value chain.
“This decision underlines the federal government’s determination to clear legacy liabilities and give gas producers the confidence that supplies to power generation will be honoured. It could unlock stalled projects, revive investor interest and rebuild momentum behind Nigeria’s transition to a gas-driven economy,” Ubong said.
