IOCs owe oil producing communities $12bn in gas flare penalties – HOSCON

Host Communities of Nigeria, Producing Oil and Gas, HOSCON, yesterday, disclosed that international oil companies, IOC, operating in Nigeria owe oil producing communities over $12 billion, being penalty for flaring gas in their areas of operations.

Speaking after a visit to President Muhammadu Buhari in Abuja, National Chairman of HOSCON, Mr. Mike Emuh, also lamented the widespread under-development in the Niger Delta region despite the enormous contribution of the region to the Nigerian economy.

He stated that over the last 16 years, over 442 industries had been shut down in the Niger Delta, including the moribund Aladja Steel Rolling Mill; Delta Glass, AP&T Sapele, Asaba Textile Mill and numerous businesses, as well as infrastructure in the region.

Source: Vanguard

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