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Former President Olusegun Obasanjo and Bayelsa State Governor Douye Diri have called for an upward review of the 13 per cent derivation fund allocated to oil-producing states, arguing that the Niger Delta deserves greater economic benefits from its natural resources.
The call was made on Monday during the inauguration of the Crude Distillation Unit of the $1 billion Azikel Refinery in Obunagha, Yenagoa Local Government Area of Bayelsa State. Obasanjo used the occasion to support the demand for a larger share of oil revenue, maintaining that the existing allocation should serve as a starting point for further negotiations.
Diri, in his remarks, said communities in the oil-producing region had continued to bear the environmental and social consequences of petroleum exploration without receiving adequate benefits. He also criticised the Land Use Act, arguing that the existing legal framework limits the influence of states over resources beneath their land. The governor insisted that the Niger Delta should have a greater role in decisions concerning the management and distribution of its petroleum wealth.
Obasanjo, while commending the refinery’s promoter, Dr Azibapu Eruani, urged him to complete the facility within the next 12 months. He also acknowledged the contributions of Bayelsa State and financial institutions, including the African Finance Corporation and the African Export-Import Bank, towards advancing the project.
The refinery is expected to strengthen local petroleum processing, create employment opportunities and stimulate industrial development in Bayelsa and the wider Niger Delta. Diri also urged young people to acquire technical skills that would enable them to benefit from jobs expected to emerge from the facility. He called on oil companies operating around Gbarain and Obunagha to assist in rehabilitating the road leading to the refinery.
