By Michael Eboh

OIL-producing   communities   under  the aegis of Host Communities of Nigeria Producing Oil and Gas (HOSTCON), have entered into a strategic partnership with a consortium of foreign investors to utilize the vast quantity of gas flared in the Niger Delta for electricity generation and fertilizer production.

This was contained in a presentation to the Senate Committee on Petroleum Industry Management Bill by the National Chairman of HOSTCON, Mr. Mike Emuh, in Abuja.

Emuh, who did not divulge the identity of the foreign investors, said the investors are experts in the conversion of gas to energy, while he added that the investors would be responsible for financing the project.

According to him, the foreign investors would be working in conjunction with the Federal Government, International Oil Companies, IOCs, the Nigerian National Petroleum Corporation, NNPC, Energy Commission of Nigeria, Ministry of Environment and the Ministry of Petroleum Resources, who are expected to give the investors the necessary guidance and requirements for gas flare reduction.

He also called for the establishment of the Host Communities Petroleum Commission to manage the 10 per cent equity fund in favour of oil producing communities as contained in the Bill.

Emuh assured the National Assembly on the ability of professionals from all the oil and gas producing states to manage the commission effectively when it is established. He also called for the immediate release of the 13 per cent derivation fund to HOSCON, approval of oil blocks and pipeline surveillance contracts to oil producing communities, as well as the immediate release of the gas flared penalty levy money that had been delayed, in order to address the issue of neglect of the Niger Delta people and also end the crises in the region.