Oil & Gas
PROF. Akinade Olatunji, the President of the Nigerian Mining and Geoscience Society (NMGS), says ownership approach by host communities to oil-producing companies will ensure the safety of their infrastructures and assets.
He made this remark during his installation as the 32nd President of the NMGS in Ibadan on Sunday.
Olatunji emphasised that when host communities have a sense of ownership in the oil infrastructures and assets located on their land, it would enable them to combat oil theft and manage security within their communities more effectively.
He pointed out that the amount of oil being stolen in the country currently exceeds the amount being sold legitimately.
Olatunji said the practice of providing token payments to communities who are aware of the substantial resource being taken away from their land, as it does not foster patriotism and a sense of belonging.
The professor advocated for strategic and deliberate actions to ensure that the communities have ownership or co-ownership of these assets.
He suggested that the oil-producing communities are long overdue for a master plan that would transform them from their current state to a more developed and prosperous setting, similar to cities built with the wealth derived from resources in their land.
“The quantum of oil stolen in the country now is higher than quantum being sold legitimately. The approach of applying tokens to communities who are aware of the humongous resources being carted away from their land does not engender patriotism and sense of belonging.
“There must be strategic and deliberate actions directed at ensuring that the communities own or co-own these assets.
“The oil producing communities are overdue for sort of master plan that will transform them from the ghetto setting to glamorous setting they have seen in cities built with money from resources in their land, “he said.
The don noted that the Petroleum Industry (PIA) Act 2021 had unleashed a new sets energy and enthusiasm into the sector and should be allowed to work, identify its weakness and reinforce it where necessary through amendment from National Assembly.
He added that PIA was a great attempt at removing the opacity and inconsistencies that had characterised the oil and gas sector in the last 20 years.
“The amount of resources allocated to oil communities in the PIA is not sufficient to guarantee the kind of safety on investment that is required for the continuous survival and profitability of the oil and gas sector in the long run.
“This is an aspect of the PIA that needs to be urgently amended otherwise the entire prospects expected of the Bill may be jeopardised, “he said.
Olatunji noted that the Core Curriculum and Minimum Academic Standard (CCMAS) by the National Universities Commission (NUC) could not guarantee the training of the types of professionals needed for the future endeavours in geoscience and mining engineering field.
According to him, the council of the Nigerian Mining Engineers and Geoscience(COMEG) and NMGS have developed a document to be submitted to NUC.
He said the NUC would adopt it as CCMAS for programmes in geoscience and mining engineering profession.
This, he said, would ensure that the future geoscientists and mining engineers would be adequately trained to take up the envisaged challenges that could emerge in the sector.
The guest lecturer, Mr Austin Avuru, the Co-founder and former Chief Executive Officer of Seplat Energy Plc, in his lecture, called for strengthening of geological survey agency to develop high quality geoscience data.
Avuru, in his lecture titled: “Harnessing the Myraid of Geoscience Solutions as Panacea to Rapid Development of the Nigerian State” said the data would form a baseline for commercial minerals exploration and extraction.
“Government needs to strengthen Nigerian Mining and Minerals Commission to play its key regulatory role of issuing titles.
“This is done through a transparent process to institutions with a requisite technical and financial capacity, monitoring their operations and collecting revenues and royalties.
“The poor security system in mining sector has to be addressed as the current spate of organised crimes could not allow any investor into the nation mining territories, “he said.
The News Agency of Nigeria(NAN) reports that the installation programme featured recognitions, awards presentation and lectures among others.(NAN)
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Tags: Mr Austin Avuru Prof Akinade Olatunji Seplat Energy
