By Peter Omopo
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has pledged to strengthen its oversight of the petroleum sector to ensure oil-producing communities receive the benefits guaranteed to them under Nigerian law.
The Chairman of the Commission, Mohammed Shehu, gave the assurance during an investigative hearing into the operations of Sterling Oil Exploration and Energy Production Company (SEEPCO) and the implementation of Host Community Development Trusts under the Petroleum Industry Act.
Shehu said the investigation was part of RMAFC’s broader efforts to promote transparency and accountability in the management of oil revenues and ensure that host communities receive their statutory entitlements.
According to him, the Commission would intensify its monitoring responsibilities to ensure that provisions designed to benefit communities hosting oil and gas operations are fully implemented.
The Chairman of the investigative committee, Ekene Enefe, expressed concern over the failure of SEEPCO to appear before the panel and warned that the Commission would not tolerate attempts to evade regulatory oversight.
Enefe also directed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to resolve outstanding issues surrounding the Host Community Development Trust within 48 hours.
He further gave SEEPCO an ultimatum to fulfil its obligations to communities affected by its operations.
However, representatives of the host communities challenged claims concerning the implementation of development initiatives, alleging that they had not been adequately consulted and had received insufficient development support despite years of oil production in their areas.
The hearing forms part of RMAFC’s wider efforts to strengthen accountability in Nigeria’s petroleum industry and protect the interests of communities hosting oil and gas operations.
The Commission said it would continue to monitor compliance with relevant laws and ensure that oil-producing communities receive the benefits to which they are legally entitled.
