In his goodwill message at the 4th National Council on Hydrocarbons held in Abuja, the Senior Special Assistant to the President on Niger Delta Affairs, Senator Ita Enang, decried the impoverishment faced by residents in the oil rich region where most IOCs operate.
In the communiqué, it was stated that the council further deliberated on the need for stakeholders to be aware of the development and prospects of the Nigerian Gas Flare Commercialisation Programme and the efforts being made to realise the objectives of the programme. The council resolved to encourage regulatory agencies and other relevant ministries, departments and agencies to promote a competitive, efficient and transparent domestic liquefied petroleum gas market to enhance growth of Nigeria’s economy.It stressed the need to recommend the approval of the development of a pipeline network code to serve as a guiding document for building and protecting pipeline assets in Nigeria.
The NCH harped on the need to consider crashing the contracting cycle in the oil sector from 24/36 months to not more than six months for maximum profitability.
THE ROYALTIES AND LAND RENTS TO THE COMMUNITIES WAS TAKEN AWAY BY GOVT, HYPOCRITE