Senator Rochas Okorocha

International oil companies IOCs operating in Nigeria has once again been accused of marginalising and treating their host communities in the Niger Delta region of Nigeria with ignominy.

They have been further accused of not respecting and honouring the Memorandum of Understanding MOU signed between them and the host communities which borders on the exercise of Corporate Social Responsibility CSR.

The former governor of Imo State Owelle Rochas Okorocha made this revelation known on the floor of the Senate, Nigeria’s upper legislative house while contributing to a debate on Production Sharing Contracts PSC between the federal government and oil companies.

Okorocha who currently represents Imo West Senatorial District at the National Assembly accused the various companies in Nigeria notably Shell Petroleum, Exxon Mobil, Chevron, Agip and others of failing to fulfill their obligations to their various host communities in the Niger Delta.

He was reacting to a motion table before the senate by Senator Ifeanyi Uba representing Anambra South for an urgent need to review and recover additional revenue accruable to the Federal Government from the Production Sharing Contracts, PSC.

According to Okorocha “It is painful that oil companies do not live to expectations in the area of Corporate Social Responsibility (CSR). We must call the oil companies to order and be charged to fulfill their CSR in the Niger-Delta area”.

He, therefore, urged the senators to support Uba’s motion “so that we can fix the mess in the Niger-Delta area”.

After hearing the motion and various supporting contributions to the motion, the Senate resolved to mandate the Senate Committee on Petroleum Resources Upstream in conjunction with the committees on Judiciary and Finance to investigate the reasons for the failure to review the salient provisions of the PSC Act.

The committee was also mandated to identify the best fiscal regime for the PSCs and review the provisions of the PSC Act to ensure that the share of the Federal Government of Nigeria in the additional revenue is adjusted in accordance with the provisions of the Act.