Elder statesman, Chief Edwin Clark, has faulted the Petroleum Industrial Bill, (PIB), which was recently passed by the National Assembly.
The elder statesman disclosed this in an open letter addressed to the Senate President, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila.
According to Clark, the PIB dashed the hopes of the people of the Niger Delta region, adding that it is “satanic, unjust, embarrassing.”
This is as he condemned the provision and allocation of 30 percent of profits to the frontier exploration of oil in the North.
The elder statesman rejected the 3% and 5% of operating expenditure granted to host communities including the 30% provision for Frontier Exploration Fund.
He called for the review of the PIB to reflect nothing less than 10% of operating cost for oil-bearing communities.
“If this is not done, the Niger Delta people may be forced to take their destiny into their own hands and all IOCs may find themselves denied access to their oil activities in such communities”, he added.
