Ogoni Oil: Group Demands 10-15 Percent Equity

In a bid to fully commence oil operations in Ogoni land, the people have demanded 10-15 per cent equity and not profit sharing.
The Coordinator of Ogonis Elites and Elders, Dr. Eddie Wikina, speaking with our reporter Friday in Port Harcourt, said equity based arrangement was the best way to follow in the matter.
He said for any company to be endorsed by the people it must be ready to accept partnership model and nothing less.
Wikina who is also the Chief Executive of Rivers State-owned Treasure Energy Resources, noted that the essence is to enable the Ogonis to have full representation in the senior and management levels so as to allow them play key decision making roles.
He listed awarding of contract opportunities to qualified Ogoni contractors as another ground for the new oil exploration exercise in the Kingdom.
Another ground, he said, was the need to consider Local Content Act that will enable all employable youths in the area to be employed.
He explained that the major argument was to enable the entry of companies that would transform Ogoni economically and otherwise including the Independent Power Project (IPP).
According to him, all social groups, in the Ogoni communities including women would be carried along in the scheme of things.
He also advised Belema Oil Company to avoid short-cuts, but should go through the minimum requirements of people and come for open negotiation.
Meanwhile, he has called for a delay in the process until after the general elections.

Perm. Sec. Ministry of Information and Communication, Sam Woka (3rd right), GM RSNC, Mr. Celestine Ogolo (4th right) and other dignitaries during inspection of monorail at UTC station, recently. Photo: Prince Obinna Dele