By Chioma Onuegbu
Uyo—FRONTIER Oil Limited/Seven Uquo Gas Limited, has signed a revised Memorandum of Understanding, with Akwa Ibom State Government and host communities to subsist for five years.
The MoU provides that the immediate host communities have 32 per cent, while host communities in Eket, Esit Eket, and the state government were accommodated by 30 per cent, 28 per cent and 10 per cent respectively in the agreement.
Managing Director of FOL, Mr. Dada Thomas, who signed for the company, yesterday, thanked the host communities for guaranteeing conducive environment for the company to operate.
He said: “I urge the MoU implementation committee to work towards implementing the agreement reached between the company and its host communities in good spirit to enable us succeed.
“We will do our best to implement the MoU which we have just signed. We will make sure that every letter in the MoU counts.”
The state Commissioner for Environment and Mineral Resources, Dr. Iniobong Essien, who represented the state government, explained that the first MoU which lapsed on February 9, 2016 was subjected to in-house review by the MoU implementation committee.
He said: “The revised document was forwarded by the Frontier Oil Limited in April to the ministry for consideration. And the MOU is one of the important tools for building partnership and sustaining development with host communities.”
“It engenders mutual trust and reduces the likelihood of unfair dealing from all parties because it imposes transparency and accountability in the community and company relation.”