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Activist Denounces Petroleum Industry Act’s Allocation To Oil Producing Communities As “Total Mockery”
Activist Denounces Petroleum Industry Act’s Allocation To Oil Producing Communities As “Total Mockery
In a candid interview, Dr. Ufot Phenson, an environmental activist and President General of the Akwa Ibom Oil Producing Community Development Network, criticized the Petroleum Industry Act’s allocation of three percent to oil producing communities as a “total mockery” in light of the severe environmental pollution they endure. Phenson revealed plans by his organization to lead a push for a review of the law, advocating for a more substantial allocation to impacted communities. Here are the key insights from the interview:....KINDLY READ THE FULL STORY HERE▶
Allocation to Oil Producing Communities:
Phenson expressed gratitude to former President Muhammadu Buhari for giving assent to the Petroleum Industry Act but asserted that the allocated three percent for host communities falls short of addressing the significant suffering and devastation they experience due to environmental pollution. He emphasized the urgent need for a review, advocating for a ten percent allocation instead.
Wrongdoings of Oil Companies:
Phenson denounced the uncompromising attitude of oil companies, highlighting their negligence, refusal to accept faults, and lack of sympathy for human lives and the environment. He cited instances of frequent oil spills and flaring of hydrocarbons, emphasizing the adverse effects on host communities, including water pollution, destruction of property, economic hardship, and human rights violations.
Failures of NOSDRA:
Phenson criticized the National Oil Spill Detection and Response Agency (NOSDRA) for failing in its responsibilities, accusing it of conniving with oil companies to frustrate the people of Akwa Ibom State. He highlighted NOSDRA’s failure to conduct remediation and damage assessment, essential for compensating oil spill victims, and its reluctance to enforce regulations against oil companies.
Plight of Oil Producing Communities:
Describing the fate of oil producing communities as dire, Phenson lamented the environmental degradation, economic hardship, and health challenges they endure due to the harmful activities of oil companies. He highlighted the depletion of natural resources, loss of livelihoods, and the adverse impact on community well-being.
Divide and Rule Tactics:
Phenson criticized oil companies for employing divide and rule tactics, creating discord within communities to further their interests. He recounted instances of violence and intimidation orchestrated by oil company surrogates and emphasized the need for unity among affected communities to combat exploitation and injustice.
Pursuit of Justice:
Despite the challenges, Phenson expressed confidence in the Nigerian judicial system, believing that the courts will deliver justice for oil spill victims. He underscored the urgency of addressing environmental degradation and advocated for sustainable development practices that prioritize community well-being.
In conclusion, Phenson’s impassioned advocacy sheds light on the urgent need for equitable treatment of oil producing communities and underscores the importance of environmental justice in Nigeria’s oil industry
The future of Nigeria’s Naira-for-Crude policy remains in limbo as negotiations continue between the Nigerian government and Dangote Refinery. The six-month agreement between the Nigerian National Petroleum Corporation (NNPCL) and Dangote Refinery expired on March 31, 2025, without a renewal, leading to the suspension of the refinery’s sale of refined petroleum products in Naira. However, the refinery has continued processing approximately 400,000 barrels of crude oil daily, with 35% of the crude sourced from international markets, particularly Brazil and Equatorial Guinea.....KINDLY READ THE FULL STORY HERE▶
Although the policy’s future is still under review, sources suggest that its economic implications, especially concerning fuel prices and foreign exchange rates, make it crucial to the national economy. Despite challenges in crude supply from NNPC, Dangote Refinery has expanded its global sourcing and is currently sourcing crude from Brazil’s Petrobras and Equatorial Guinea.
No official agreement has been reached yet to extend the Naira-for-Crude deal. The Nigerian government’s committee in charge of the policy is waiting for recommendations from the Nigeria Upstream Petroleum Regulatory Commission before proceeding. Meanwhile, the refinery’s management has expressed uncertainty regarding the renewal of the deal, citing concerns over the financial strain and volatility of exchange rates. The future of the policy remains unclear, with NNPC expected to supply crude oil to Dangote Refinery in April, but payment terms are yet to be finalized.
The price of cement, a vital resource for Nigeria’s construction industry, has witnessed significant changes recently, with rates fluctuating depending on brand, location, and market factors. Here is an overview of the current prices for some leading cement brands:....KINDLY READ THE FULL STORY HERE▶
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Dangote Cement: The cost of a 50kg bag of Dangote Cement ranges between ₦8,000 and ₦10,300. Known for its high quality, Dangote Cement remains a preferred choice in various construction projects. Prices are generally lower in areas near production plants but tend to rise in regions requiring extensive distribution.
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BUA Cement: Priced between ₦8,000 and ₦8,500 per 50kg bag, BUA Cement is popular among builders due to its competitive pricing and stability. Prices may vary slightly depending on proximity to manufacturing sites.
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Lafarge Water Shield Cement: Priced at ₦20,000 per 50kg bag, this cement variant is specifically formulated for durability and resistance to moisture, making it ideal for projects in damp environments.
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Waterproof Cement JK: Available at ₦15,000 per 50kg bag, Waterproof Cement JK is engineered to offer exceptional protection against water ingress, particularly useful for wet construction sites.
Over the past year, cement prices in Nigeria have surged significantly. At the start of 2024, a 50kg bag cost around ₦4,500. By November 2024, the price rose to about ₦8,500, reflecting an increase of approximately 89%. This upward trend is attributed to factors such as rising production costs, increased demand, and logistical challenges.
Marketers predict a potential further increase in cement prices, emphasizing the need for stakeholders in the construction sector to stay informed and plan accordingly.
A recent survey conducted by Naija News has revealed a notable decrease in the price of cooking gas in Nigeria, offering much-needed relief to households and small businesses. According to the survey, the cost of refilling cooking gas per kilogram has reduced significantly from ₦1,350 to ₦1,020.....KINDLY READ THE FULL STORY HERE▶
This positive development is expected to ease the financial burden on Nigerian families and small enterprises, especially those that heavily depend on cooking gas as a primary energy source. The survey, encompassing gas stations and vendors from various parts of the country, shows that the reduced price may help lower the overall cost of living.
The revised price breakdown is as follows:
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1 kg of Cooking Gas: ₦1,020
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3 kg of Cooking Gas: ₦3,060
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5 kg of Cooking Gas: ₦5,100
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10 kg of Cooking Gas: ₦10,200
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12.5 kg of Cooking Gas: ₦12,750
This decline marks a significant shift from the previous upward trend in gas prices and is likely to positively impact the economy, particularly the food and hospitality sectors. Businesses that rely on cooking gas will experience reduced operational costs, ultimately boosting their profit margins.
Experts attribute the drop in cooking gas prices to several factors, including fluctuations in global energy costs and adjustments within local supply chains. Despite recent variations in crude oil and natural gas prices, the reduction is perceived as a welcome development for Nigerian consumers.
By spending less on cooking gas, households and small businesses will now see some financial relief in their monthly budgets, especially during these economically challenging times.
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