Niger Delta demands 10pct share from Federation Account

Posted by Victor Edozie, Port Harcourt | 30 July 2018 | 2,040 times

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Niger Delta communities, under the aegis of host communities of Nigerian producing oil and gas, have called on the federal government to set aside 10 per cent of the federation account for their development.

They want oil companies operating in the region to concede 10 per cent equity participation share to host communities.

The chairman of the body, Style Benjamin stated this weekend at Warri, Delta State, during the inauguration of its executive body.

He said: “Host communities should be directly involved in the management of their resources to give them sense of belonging. Oil is regarded as national asset as a result of the land use act. Therefore, incomes derived from it are shared by all tiers of government.

The same cannot be said of gas flare fines. The 1985 Associated Gas re-injection act which introduced payment of fines should be amended by this act so that gas flare fines are paid directly to the host communities as injuries and damages.”

•Culled from a Daily Trust report


Source: News Express

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