Lagos, May 26, 2024 – The Human and Environmental Development Agenda (HEDA Resource Centre) has expressed concern regarding the notable lack of transparency and accountability in the recent announcement by the Minister of State for Petroleum Resources, Heineken Lokpobiri and current government’s drive for the oil and gas sector revamp.
According to the Minister, a certain $16.6 billion has been invested in the oil and gas sector over the past year. HEDA, a well-respected civil society organization, is calling for immediate and thorough disclosure of the details surrounding this claimed investments that is unknown to the country or the host communities.
In a statement signed by its Chairman, Olanrewaju Suraju, HEDA emphasizes the necessity for the Minister to provide a comprehensive report on the investments for the necessary engagement of relevant stakeholders.
This report should include a detailed breakdown of the substantial $5 billion and $10 billion prospects towards deepwater offshore assets.
“We demand a full disclosure of the $1.6 billion purported investment in oil and gas asset acquisition in the face of devastating pollution and legacy of liabilities in the oil producing and impacting communities,” Suraju said.
This call for clarity underscores HEDA’s commitment to ensuring that every dollar is considered against environmental, economic and social costs for the country and its people.
HEDA is seeking detailed information regarding the recently publicized $20 billion deal with investors, aimed at significantly boosting oil and gas production in Nigeria.
The organization is not just interested in the broad figures but also in the social, environmental, and economic implications of the deals, including the timeline for its implementation and the expected outcomes.
Such transparency is crucial for public trust and for ensuring that the benefits of these investments are felt by the Nigerian populace.
“HEDA Resource Centre reaffirms its commitment to promoting transparency and accountability in the oil sector and calls on relevant stakeholders to ensure openness and transparency in the sector,” Suraju added.
This statement reflects HEDA’s ongoing dedication to advocating for responsible governance and its belief that transparency is fundamental to the effective management of Nigeria’s oil and gas resources.
The organization continues to push for rigorous scrutiny and public disclosure to ensure that the sector operates in the best interest of all Nigerians.
