Business
NOSDRA Wants Oil Communities To Resist Illegal Bunkerers
The Zonal Director, Port Harcourt Office, National Oil Spills Detection and Response Agency (NOSDRA), Mr Cyrus Nkangwung has alarted members of oil bearing communities on the need to resist the entry of illegal oil bunkerers into their communities.
Nkangwung gave the warning in an interview with newsmen to enlighten the public on the functions of NOSDRA.
He raised the alarm that operators of illegal refineries were now moving into the communities and warned that there were dangers to the lives of the people of those communities if they were not resisted and asked to leave their communities.
“These boys have moved close to the communities, they are no more in the creeks, they are now in the communities, if you go to a place like Isakep, you see their refineries are planted there, so it calls for a collective effort and responsibility,” he lamented.
He noted that NOSDRA was responsible for the management of oil spills, saying when a spill occurs, “a joint investigation team is put together to determine the cause and volume of spill into the community, the cause is important because that would determine weather the community would have compensation or not.”
He observed that if a company operated within a community without any spills within a year, that community benefited from the profits of the oil company for that year, “and that stabilizes the community.”
Nkangwung regretted, however, that available records showed that, Rivers and Delta States ranked tops in cases of illegal crude oil refining in the Niger Delta.
According to him, “today illegal refining is predominately in Rivers and Delta states; in fact, some states like Bayelsa State, you may think you have them, but to a large extent, you see that there are very few cases.”
Nkangwung called for urgent establishment of modular refineries in the Niger Delta, saying the problems associated with oil theft in the region would only come to an end or be drastically reduced if modular refineries come in place.
Tonye Nria-Dappa
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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