OIL-producing communities under the
aegis of Host Communities of Nigeria Producing Oil and Gas, HOSTCON, have
entered into a strategic partnership with a group of foreign investors to
utilize the vast quantity of gas flared in the Niger Delta for electricity
generation and fertilizer production.
This was made known in a
presentation to the Senate Committee on Petroleum Industry Management Bill by
the National Chairman of HOSTCON, Mike Emuh, in Abuja.
Emuh, who did not disclose the
identity of the foreign investors, said the investors would be responsible for
financing the project and would be working in conjunction with the Federal
Government, International Oil Companies, the Nigerian National Petroleum
Corporation, Energy Commission of Nigeria, Ministry of Environment and the
Ministry of Petroleum Resources.
He, who called for the establishment
of the Host Communities Petroleum Commission to manage the 10 per cent equity
fund in favour of oil producing communities, also assured the National Assembly
on the ability of professionals from the oil and gas producing states to manage
the commission effectively when established.
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