Niger Delta Region should at least posses 65% of the oil wells - NDA Lawmakers

The South-East and South South lawmakers in Owerri over the weekend has called on Federal Government to review how oil wells are owned in the country. 

The Region currently possess less than 10 per cent of the oil wells and they now want at least  65 per cent.
"The people of the Niger Delta region should possess at least 65 per cent of the oil wells contrary to the present ownership structure where less than 10 per cent of the oil blocks belong to our people." 
The Lawmakers, however noted that the development of the region is hindered by the current system of derivative oil funds payment and urgently urged FG to take up adequate measure that would ensure direct payment of the funds to the benefiting communities.
"There is an urgent need for the Federal Government of Nigeria to put in place adequate machinery that would ensure direct payment of derivative oil funds into the hands of Niger Delta benefiting communities." the members said.

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