Group calls for review of Petroleum Industry Act 2021

The Niger Delta Development Commission has called for a review of the Nigerian Petroleum Industry Act to ensure that communities in the states benefit from oil exploration and disbursement of funds worth more than $1bn (7m) in their efforts to tackle environmental damage, it has been claimed by the locals and host comunidads. But How is the planned project to give powers to the oil companies in Nigerias northern state of Niger delta to be reviewed, according to an organisation which says it is calling for an inquiry into the process of reviewing the Act, saying it needs to change the law to allow the country to provide regulatory and fiscal framework for the petroleum industry, and explains how they are using the public resources to help them avoid illegal oil and gas explorers who have visited the state to get the full gains of its discovery of oil, gas and water supply. The group has said it wants the government to review the new laws aimed at encouraging residents to share power with oil producers, as part of an ambitious initiative to improve the development of Nigeria s polluted areas. Why is it so important to make the project compulsory and not being taken back by oil firms in its bid to boost the economic growth of some of them? Should it be scrapped, the group calls for it to take action to protect the community of people who do the work of community trust accounts for its ongoing project? The BBC understands what it said.

Source: environewsnigeria.com
Published on 2024-03-27

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