From Fred Itua, Abuja
The Federal Government has revealed that it will engage oil producing communities in the Niger Delta on issues regarding the three per cent of operational costs allocated to them in the just passed Petroleum Industry Bill PIB.
Minister of State, Petroleum Resources, Timipre Sylva disclosed this yesterday in Abuja when a group of Ijaw elders, leaders and critical stakeholders visited him to congratulate him on the passage of the PIB after 20 years.
Sylva, who tasked host communities on effective management of the funds, lamented the situation where communities in the Bonny Island cannot access funds paid to them by the Nigeria Liquefied Natural Gas Company NLNG following court cases instituted by some individuals.
He also said he has extracted the commitment of multinational oil firms to relocate their operational headquarters to the Niger Delta and urged the elders to continue to sensitize communities on the need to secure public assets in their areas.
The minister said: “We are planning, alongside the Minister of Information, to hold town hall meetings in the host communities after the presidential assent to the PIB. We need to have more stakeholders’ engagement on the three per cent allocated to the communities. People need to know that it is from production costs and not from profit. The production cost is always higher than the profits.
“Today, I can tell you authoritatively that we are on the last mile of the oil economy. Economies around the world are now discussing renewable fuel.
“We must understand that very soon, we might wake up and find out that oil is not as valuable a commodity as we thought before.
“Coal did not finish before the world moved away from coal. There is still a lot of coal deposit in Enugu today but if you give some of it to someone, he might not appreciate it because the world has moved away from coal.
“We must support every effort to ensure that the oil we have today is produced and sold so that we can get the benefits.
“For the past 20 years, we have been struggling to pass the PIB and that introduces a lot of uncertainties in he horizon because when you are in the process of amending your laws, investors would hold on to see what the amendment will be.
“That was why since the last 20 years, investments in the sector was on hold. Last year, there was over $50bn investment in Africa and what came to Nigeria was $3 billon because of the uncertainty in the sector.”
All that our Elders and Leaders of the Oil Producing Communities have to
do now is to close ranks and see to it that this country is immediately
restructured along with the devolution of power to our Constituent Units
and of course,with a 100% resource control.
With that,they can salvage the little that is left from their God’s given
resources from the Nigerian parasites,before fossil fuels are phased out
as sources of energy within 20 to 30 years to come.
Our Ex-Military Heads of State; Abubakar Abdulsalami,Ibrahim Dadamasi
Babangida(IBB) and Oluesgun Obasanjo (OBJ) own oil blocs,but they
respectively also misappropriated (stole) the sums of US$28bn,
US$12.47bn and US16bn from our vast oil revenues.
Our Ex-Military Head of State and current President, Mallam Muhammadu
Buhari as a Chairman of our Petroleum Trust Fund (PTF) under the late
Despot, General Sani Abacha,misappropriated (stole) the sum of
US$2.84bn from our PTF oil money.
He did also supervise the mindless loot of our vast oil revenues by his then
late Principal, Sani Abacha and shamelessly lied about that later.
As soon as he took over the Presidence,Buhari dipped his filthy fingers into
our national till and misappropriated (stole) the whooping sum of US$25bn.
When the erstwhile Minister of State for Petroleum, Chief Emmanuel Ibe
Kachikwu blew a whistle about that, President Buhari and his Daura crowd
deadpanned and claimed that the huge sum of money was for NNPC Petroleum Exploration Contract in Chad Lake,Kaduna ,Gongola and Benue
River Basins.
Oh dear!
What an unbridled financial and economic brigandage indeed!
But our British Colonial Master did exhustive and thorough petropleum
Explorations all over the country and did not find any commercial oil deposits
yonder in the North.
IBB Military Government did also search for black gold in the North but
came up with the same result.
However,an insider like Mallam Ibrahim Magu of EFFC with his good connection with Egmont Group,the global body for monitoring international money laundering activities, does know that the trail of President Buhari’s $25bn Petroleum Exploration Scam led to Dubia in the Arabian Peninsula.
Our current First Family doesn’t only own a plush property in Dubai but also
own Etisalat and Keystone Bank,which salary of Mallam Muhammadu
Buhari as our President cannot buy.
The question does arise,if the Abubakar Abdulsalamis, Ibrahim Badamasi
Babangidas (IBBs), Muhammadus Buharis and the Olusegun Obasanjos
(OBJs) of this world will have to kick the bucket first like Sani Abacha,
before we Nigerians can go after their above loots?
But why must we wait that long?
We Nigerians must demand for our stolen vast oil revennues from those
Military Bandits,Despots and Rogue Usurpers of Power now.
Nigeria We Hail Thee.Lol!