16th August, 2010
The Host Community of Nigeria Oil and Gas (HOSTCON) has urged the Federal Government to remit the 10 percent equity share funds to host communities of oil and gas facilities.
The body also urged the government to implement the â€œLocal Content Policy Act and gas flaring regulation.
The Chairman of Ijaw Chapter of the group, Chief James Orubu, made the call in an interview with the News Agency of Nigeria (NAN) in Warri, Delta.
He appealed to the government to consider the sacrifices and contributions of the oil bearing communities to the nationâ€™s economy and release the equity share funds urgently.
The chairman suggested that the fund should be released directly to the host communities to accelerate the development of their areas.
Orubu cautioned that the money should not be channelled through any third party, â€œwhether state or government agencies, as HOSTCON will not like to tolerate any case of misappropriation or diversion.â€
He said: â€œThe Federal Government should deal with national leaders of HOSTCON and announce the release of the funds and there should be no secrecy in it as that may spark off crisis.
â€œWe call for open dealing, trust, sincerity and equity. The funds will be used to finance specified projects in the oil bearing communitiesâ€.