An energy expert has called for the introduction of an administrative system that would ensure that host communities of oil rich Niger Delta have direct ownership stakes in the resources exploited on their land.
The Managing Director, Star Delta Energy Services, Mr. Peter Okocha stated this on Saturday at a stakeholders interactive forum for Niger Delta held in Port Harcourt, the Rivers State capital.
Okocha, who was a guest speaker at the forum, said there was an urgent need for a system that would guarantee host community’s direct involvement, as stakeholders in every facet of its resource exploitation, optimal standard and adherence of hest practices.
In his paper titled, “Balancing the scales”, the Managing Director presented a new module called ‘Special purpose Vehicle ‘ (SPV) which he said, entails the registration of company by host communities in each local government to play as equal partners in oil and gas exploration and production.
Okocha said: ‘As each state in the Niger Delta is made up of several local government areas, which if further dissected, comprises of several communities; each community within the LGA will produce a shareholder representative that will represent the community as director in the registered company.
“The aim of the SPV is to give the communities a medium to self determine its development by having a vehicle to participate in projects executed in its communities, and also create and manage its own projects”.
Explaining further, he said the SPV, as a registered company would give communities the rights to sue and have recourse in all agreement it enters, as opposed to the MoU which by nature is not designed to be legally binding.
According to him the new concept would guarantee equitable assets redistribution, environmental remediation and expanded employment opportunities for the people.
Reacting to funding, he said Star Delta Energy has the reach to provide expertise, fund and other needed logistics in a ratio of 50/50 sharing formular with host communities that partners with the firm.
He disclosed that the company have consulted several community leaders across the region and that some communities have already endosed the idea hence the need to present it to the public.
Participants from various communities across the region hailed the concept and promised to reach out to the areas they represented. All present at the event endorsed the new module.
Chief Dr. Bob Nabina, from Bayelsa State laid the initiative noting that it has capacity to bring peace and development to the people.
He stressed the need for wider consultation with the people and expressed confidence that the initiative would also have wide acceptance.
The President of Concerned Minds of Niger Delta, Comrade Mathias Opusoh decried the high level of suffering in the region and viewed the vision as a strategy that could address the poverty and injustice in the land.
His Royal Majesty King Alfred Diete Spiff, Amayanabo of Iwon Brass, said there was need for stakeholders to always think of new ideas to address our challenges.
Spiff who was chairman of the event lauded Star Delta energy as a firm with capacity and readniness to develop the region.