• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 25, 2026
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

Niger Delta unhappy with divestment of international oil firms

Oil firms

The Matters Press by The Matters Press
April 25, 2022
Reading Time: 2 mins read
0
Nigerian firms to handle $4b gas project

Oil Refinery

Stakeholders in the Niger Delta have faulted the reasons advanced by International Oil Companies (IOCs) divesting from onshore assets in preference to offshore fields.

RELATED POSTS

PBAT expands military structure, approves more recruitment

Tinubu’s $3.05bn intervention initiatives, part of ongoing reforms to tackle poverty at the grassroots-Group*

Atiku goofed on President Tinubu’s growth-focused borrowings, recent spike in food inflation

They said that the divestment move by IOCs was contrary to transition advocacy to renewable energy sources and a ploy to evade development obligations and responsibility for polluting the area.

This is contained in a communique issued by the stakeholders on Monday after a one-day forum on “Community Dialogue on Unmasking the Motives of IOCs Divestment in the Niger Delta”

The oil community leaders, youth and women leaders, the academia, environmental and rights activists and the media participated in the forum which was facilitated by the Environmental Rights Action Friends of the Earth Nigeria, ERA/FoEN, and held in Yenagoa.

They urged the Federal Government to compel IOCs operating in the region to honour the Memorandum of Understanding (MoU), the Global Memorandum of Understandings (GMoUs) and other agreements entered with the communities.

They argued that while global divestment advocacy was driven by the quest for cleaner energy sources, the same cannot be said of IOCs who merely abandoned polluted sites to deep sea fields, to escape scrutiny on their operations.

The stakeholders said that the call became imperative following the divestment by the IOCs who they said abdicated their social obligations to their host communities as spelt out in the MoU and GMOU.

They held that there was need for a better understanding and deepened community engagements on the global environmental justice and community definitions of divestments vis-a-vis the model of the IOCs in the Niger Delta.

The stakeholders also observed that members of the community had suffered exclusion in the divestment process, which largely had weakened local struggles for environmental justice, and divided the communities.
According to them, there is need to integrate the communities to make them the central focus of the ongoing divestment process.

They claimed that there was complicit silence by the Nigerian state and the regulatory agencies as IOCs dictated the terms of divestment.

“Decision making on the divestment process and other matters relevant to the local communities in the Niger Delta, the IOCs and Nigerian government have excluded the communities.

“There is the need for the IOCs to decommission their toxic assets and carry out remedial actions monitored by independent bodies and civil societies in the communities.

“There is the need for de-militarization of the Niger Delta communities that are legitimately agitating for a safe environment for their development.

“The oil and gas companies in Nigeria should be held liable for nearly six decades of ecocide in the Niger Delta as precursor to remedial actions and compensation.

“The Domestic Oil Companies (DOCs) have inherited and continued the tradition of impunity and lack of accountability to local communities,” the communique read in part.

In his remarks, the Executive Director of ERA/FoEN. Mr Chima Williams, said that divestment had become a major issue as the oil majors abandoned their toxic onshore facilities for offshore to evade monitoring.

He said that the exclusion of communities and community concerns in the divestment discourse motivated ERA/FoEN to facilitate the dialogue.

Prof. Teddy Adias, Vice Chancellor, Federal University Otuoke, Bayelsa and Prof. Sofiri Joab-Peterside, a Sociology Lecturer at University of Port Harcourt, shared their perspectives on divestment to lay foundation for the dialogue.

Tags: Oil firms
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Reduction in security breaches by 65%, an unprecedented feat in 13 Years
News

PBAT expands military structure, approves more recruitment

July 24, 2026
Swiss Bank expects profit of $50bn
Economy/Technology

Tinubu’s $3.05bn intervention initiatives, part of ongoing reforms to tackle poverty at the grassroots-Group*

July 24, 2026
Nigeria, WFP worry over food situation
Economy/Technology

Atiku goofed on President Tinubu’s growth-focused borrowings, recent spike in food inflation

July 24, 2026
Tinubu signs amended electoral Act
Economy/Technology

Nigeria gains more global recognition -PBAT

July 24, 2026
Infrastructure gulp N2,7tn in Nigeria
Economy/Technology

Tinubu turning Nigeria into massive construction site

July 6, 2026
Covid-19 causes GDP’s contraction
Economy/Technology

Slash in vehicle import levies will reduce financial burden on Nigerians-TMV

July 6, 2026
Next Post
Food shortage: Nigeria bans foreigners from direct purchase of produce from farmers

Buhari commends AfDB food security efforts

Coronavirus hits hard as China records 811 deaths

China’s central bank to promote steady, healthy development

Recommended Stories

Africa needs groundbreaking investments

Africa needs groundbreaking investments

June 25, 2019
Southeast, Southwest worry over Atiku’s six-year policy plan

Southeast, Southwest worry over Atiku’s six-year policy plan

November 19, 2018
NGX Group grows revenue to N6.17bn

NGX Group grows revenue to N6.17bn

March 3, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PBAT expands military structure, approves more recruitment
  • Tinubu’s $3.05bn intervention initiatives, part of ongoing reforms to tackle poverty at the grassroots-Group*
  • Atiku goofed on President Tinubu’s growth-focused borrowings, recent spike in food inflation

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us