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Niger Delta Lawmakers Insists on 65% ownership of Oil Wells

Lawmakers from the South-East and South-South have called on the Federal Government to review the ownership/structure of oil wells in the country to allow for at least, a 65 per cent ownership by the people of the Niger Delta region.
The Lawmakers from the South-east and South-south Houses of Assembly made this declaration when they rose from their inaugural joint session over the weekend in Owerri, the Imo state capital.

While stressing that it would encourage accelerated development of the region ,they agreed that the present payment mode of derivative oil funds isn’t enough . They further held that contrary to the present ownership structure where less than 10 percent of the oil blocks are owned by the people of the region, the South-East and South-South people should possess at least 65 percent of the oil wells.

oil locations

According to the lawmakers: “Legislators of the Houses of Assembly in the South- South and South-East can no longer watch helplessly as our region drifts aimlessly while our people walk the razor edge under the strain of impoverishment, environmental degradation, insecurity and uncertainty on the one hand and the destruction of oil/gas installations and the attendant consequences including their impact on the ecosystem and the economy on the other hand.”

oil image

The principal officers and members of the States Houses of Assembly said that, “There is an urgent need for the Federal Government of Nigeria to put in place ad­equate machinery that would ensure direct payment of derivative oil funds into the hands of Niger Delta Benefiting communities”

With regard to the militant activities currently ongoing in the region, the lawmakers urged the youths to shun confrontation, violence and militancy as a means of agitation for the redress of the zone, pointing out that, “They must embrace dialogue and diplomacy and channel their grievances through various constituted platforms.”

The joint session had in attendance speakers and deputy speakers of Abia, Akwa Ibom, Anambra, Bayelsa, Rivers, Cross River, Delta, Ebonyi, Edo, Enugu and Imo states.

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