N’Delta Communities Demand Release Of N98.8bn Gas Flare Penalty Fund

By: John Bibor

Oil and gas producing communities in the Niger Delta are demanding for the release of the N98.8 billion first tranch payment of accumulated gas flare penalty fund. The National Chairman. Host Community Producing oil and Gas in Nigeria (HASCON), Chief Jasper Jumbo told The Tide in an exclusive interview that the fund which accumulates every minute has seen approved by president Buhari Muhammadu. .
Jumbo said the released of the Money will have a positive effect on the economy the region.
He said the release of the money will stop the youths from pilfering our oil and at the sometime boost the nation revenue.
He listed other positive effects which the money will bring to the region to include the enlargement and use of local technologies in the development of modular refineries in the region.
“The money has been approved but not released. It should be released by executive fiat.”
Jumbo said the non-release of the money is helping to fuel crises in the region as well as the destruction of the nation’s critical assets.
Jumbo also criticised the Niger Delta Development Commission (NDDC) for failing to pay its constructors.
According to him, “since NDDC did not want to pay contractors, to douse further tension in the region, the money should be released through executive fiat.
“Documents have been sent on modicum of disbursement as implementation framework allocational matrixes for the management of the proposed committee”, he said.