Rivers communities laud implementation of 3% yearly operational expenditure

Five communities in Rivers State have lauded efforts by an indigenous company at implementing the Petroleum Industry Act 2021 (PIA), which stipulates remittance of three per cent yearly Operational Expenditure (OPEX).

The communities involved are Ugama Ekede, Ayama Ekede, Asukama, and Asukoyet communities in Andoni Council and Ubima community in Ikwerre Council of the state.

The communities expressed their desire to utilise the statutory three per cent accrued from yearly OPEX on human and capital development.

Speaking during the inauguration of the board of Host Community Development Trust at the weekend, members of communities said the new Act had paved the way for peace and development, noting that they will not go cap in hand after companies to demand their rights or haggle over Memorandum of Understanding (MoU).

In his remark, the Director of Green Energy International Limited (GEIL) and LekOil Joint Venture in charge of the Otakikpo JV, HRH David Serena Dokubo-Spiff, noted that the oil and gas extracting company had continuously recognised its responsibility to create prosperity and had made consistent efforts to build trust, confidence and promote social development initiatives in the host communities.

He also disclosed that GEIL engaged the people of Ugama Ekede, Ayama Ekede, Asukama, and Asukoyet communities in the Andoni Council of the state, at the grassroots level to galvanise support to conduct a needs assessment that metamorphosed into a Community Development Plan (CDP), which was carefully validated by members of the communities.