Oil & Energy
Buhari Grants 30% Incentive To Oil Communities
President Muhammadu
Buhari has authorised that about 30 per cent of all opportunities in the petroleum industry be localised in the oil-producing communities.
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu who disclosed this to newsmen in Abuja added that the reason why the crisis in the region persisted is because the people feel that they are shortchanged.
“Covering that shortchange is not necessarily a movement in derivation numbers, it is to ensure that some benefits in the oil industry are going to the oil communities.
“The President has authorised that about 30 per cent of those opportunities will need to begin to get localised in those environments. If we do that we will have a wholesome economic roll-out within those platforms,” he said.
He further disclosed that the Presidency had also agreed to look at the possibility of setting up a specialised petroleum force, which would draw from the elite of the security services, who would be provided with resources that are amphibious and technology driven to enable them respond to the request of the oil companies if they get overwhelmed outside their first line security.
He stressed that the federal government would be launching a $10 billion infrastructural rebirth investment programme in the Niger Delta, saying the funds would not necessarily come from government.
“It is money that is coming from oil companies, investors, individuals who are ready to do private sector infrastructural investment and obviously state and federal government as the case may be”, he said.
Kachikwu noted that the biggest problem in the Niger Delta is that as one goes from point to point one really cannot see any infrastructural investment, adding that the presidency is also reviewing a proposal at how the 13 per cent derivation is applied.
“Right now it is a budgeting tool for state governments. We are going to be appealing to them to begin to put quite a bit of that into the core areas of the oil-producing communities, and not just to see it as a budgeting number”, he said.
Oil & Energy
Aiyedatiwa Signs New Electricity Bill
Oil & Energy
NLNG Commissions Research And Innovation Centre In RSU
Oil & Energy
Reps Demand Urgent Action On Bille Gas Seepage, Odidi Oil Spill
-
News2 days agoRSG Targets Nine Million Residents in Mosquito Net Distribution Campaign
-
Oil & Energy2 days agoAiyedatiwa Signs New Electricity Bill
-
Maritime2 days agoMarine Minister Commends President Tinubu On NPERA Bill Assent
-
Oil & Energy2 days agoNLNG Commissions Research And Innovation Centre In RSU
-
News2 days agoKenPoly Holds Eight Convocations, August 29
-
News2 days agoRMAFC Completes Revenue Sharing Review, Proposes New Pay
-
News2 days agoRSG Begins Another Phase of Projects Commissioning Today
-
Maritime2 days agoNAGAFF Petitions IGP Over Alleged Maritime Police Harassment
