PIB: A $500 million fund will be used to transform oil and gas towns


HOSCOM, the Host Communities Producing Oil and Gas in Nigeria, announced over the weekend that the three percent, or $500 million, set aside in the Petroleum Industry Bill, or PIB, will be used to promote long-term development in the oil and gas communities.

“We have been advocating for the development of the communities, which lack power, water, roads, and jobs for their youths,” Dr Mike Emuh, Chairman of HOSCOM, said in a telephone interview with Energy Vanguard, citing decades of neglect. For years, these villages have been ignored. Everyone is in pain. However, we must recognize the accomplishments of the 9th National Assembly. The establishment of a separate fund for oil and gas communities will go a long way toward rectifying the situation.”

Emuh, when asked about the finest development tactics, remarked, “The best form of strategy is peace and togetherness.” We need to put our differences aside and work together to bring growth to our people. We need everyone, including adolescents, women, and men, to come together. To unite, we need technocrats or professionals from many sectors. It will be simple to draft and carry out development plans once we are all together. We can easily transform the neighborhoods into a Nigerian Dubai.”

“Since the beginning of petroleum operations in the Niger Delta, the oil and gas communities have been exposed to several environmental dangers, particularly oil spills and gas flaring,” said the Chairman. Unfortunately, these, which continue to occur, have had a significant influence on our land, water, and air, impacting the oil and gas people’ livelihoods. We’re investigating a variety of concerns, including remediation. However, as I previously stated, the people must be united in order for us to carry out our plans.”

He did, however, congratulate several individuals and institutions for their support of the present PIB provision, stating that “PIB has become a reality.” We believe that the bill’s provisions will go a long way toward addressing environmental and other community concerns.

“We salute President Muhammadu Buhari, Minister of State for Petroleum Resources, Timipre Sylva, the National Assembly, the Senate President, President of the Senate, Dr Ahmad Lawan, Deputy Senate President, Ovie Omo-Agege, Speaker, Traditional Rulers of Oil Mineral Producing Communities, TROMPCON, Pan-Niger Delta Forum, PANDEF, His Royal Majesty King Alfred Diete-Spiff, Amanyanabo of Twon-Brass, Traditional

“In order to maintain peace and stabilize petroleum operations, the government should continue to support the oil and gas industries. The operators should also continue to do more for their immediate hosts, while the community as a whole should be united and put their knowledge to bear on attaining long-term development.”

“It has been a long struggle, spanning many years,” he added. In the end, the oil and gas producing states received a 13% derivation. The oil and gas industries, on the other hand, have not been affected by the derivation.

“As a result, we have repeatedly urged the federal government to establish the community host fund in order to promote long-term development in the affected areas. This, in our opinion, is correct, presumably because these are the locations that produce oil and gas, as well as the pollution that comes with oil and gas operations. In addition to the financing, we have proposed the construction of modular refineries in these areas due to the presence of crude oil in commercial quantities.”

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