By Gbenga Oke

 Olisaeloka Peter Okocha Jr,  Managing Director of Star Delta Energy Services, is into oil and gas, ICT, shipping, agriculture, and real estate. In this interview, he explains that lack of economic development in the Niger Delta contributed to the unrest in the region. He also tasks the Federal Government to create a sustainable institution in the Niger Delta.

What is your assessment of what is happening in the Niger/Delta right now especially with renewed bombings of  oil installations?

When you take a critical look at  the current state of the resource-rich Niger Delta  and compare it to other resource-rich regions of the world, it is evident that something is systemically wrong in the Niger Delta.  The wealth created from the resources in the communities of the Niger Delta is not being felt, let alone, enjoyed in the Niger Delta. The fact that  the wealth is not being channelled back into the communities is the reason for the cry of neglect, and the subsequent pushback.

The lack of economic development of the region, despite its being the source of the nation’s wealth, in the face of the  degraded environment that takes away the traditional sources of livelihood such as fishing and agriculture, has left  the region’s  able-bodied youths with no means of survival.

This scenario, coupled with the frustrating reality that this land has been  the country’s proverbial goose that lays the golden egg  for close to 60 years, has engendered the spate of militancy and sabotage of oil and gas operations in the Niger Delta.

Do you think the Federal Government has done enough to ameliorate the suffering of the people of the Niger/Delta? If yes, at what point and if no, why?

The Federal Government should have implemented two key initiatives  that would have prevented the current situation in the Niger Delta. Firstly, it  should have ensured that there was a process in place whereby a percentage of the proceeds earned directly  from the exploitation of the region’s hydrocarbon resources was set aside and channelled directly into the development of the host communities. Secondly, the Federal Government should have created avenues to enable the host communities have direct ownership and management of their resources, through equity in the projects they host.

•Okocha addressing oil communities’ stakeholders

Do you feel dialogue is the way out of the crisis?

The current crisis in the Niger Delta is due to the social and economic imbalances in the region. Dialogue  is  absolutely  paramount.  Also, there must be a change in the mindset of government and the companies operating in the region, and an urgent change in the policies and actions to follow; the host  communities  involvement is crucial and indispensable in the exploitation of the natural resources in their land. Every indigene from a resource producing community should have vested interest in its resources, and for this to happen, his or her community must have ownership stakes in the resources. Collectively, we must continue to proffer solutions to make this a reality in order to “balance the scales” and uplift the Niger Delta.

What is your organisation all about?

Star Delta Energy Services Limited is an independent oil and gas company.  It was formed by myself and my partners, Gbubemi  Peter  Agbowu  and Prince Emmanuel  Ogba. The  objective is to find out ways to utilize our networks, relationships with international technical and financial institutions, and our local knowledge of the Niger Delta, to create value for the region through the creation and management of projects in the Niger Delta.

Having spent considerable time traversing  the length and breath of the Niger-Delta, interacting and consulting with the various communities and stake holders in the region, it became evident that  that these communities, thus far, do not have the adequate vehicle to use to protect their interests in the process of the  exploitation of the resources in their land. Star Delta seeks to provide  this vehicle to the  communities, by  partnering with them and equippingthem with the technical and financial capabilities required to partake in, create, and manage projects in their  respective  communities.

What role is the organization playing in helping the  average   Niger/Delta citizen?

Star Delta developed the Registered Special Purpose Vehicle (SPV) system of operation, which it is advocating for adoption across the Niger Delta. By the nature of the SPV, each host community will be represented directly in a registered company, which will be used as an entity to enter agreements, partake in  existing projects and create and manage its own projects. This initiative will definitely alleviate the plight of the Niger Delta people, as it will afford them, for the very first time, vested interests in the resources located in their land. The SPV provides a vehicle that ensures the communities are on a level-playing field with all other stakeholders in the resource exploitation process.

A key benefit of the SPV structure proposed by Star Delta is the wealth of advantages it provides the Niger Delta indigenes simply through the administration and management of the entity. The clearly defined SPV administrative procedures and Shareholders Agreement provide transparency and a tailored use of the company proceeds for re-investment in business activities, development of social infrastructure, and the provision of a social security system for all indigenes of the represented communities.

The SPV entity is a medium for the communities to chart their own development. It enables them, like any other company, to get the pre-requisite licenses, approvals, market funding, and technical alliances, to develop and manage meaningful projects, utilising their resources; which will be a direct benefit to both the communities and the country as a whole, as these activities would raise more revenue for the Federal Government.