Isoko communities threaten to stop oil operations over unpaid development funds
Communities in Isoko land, Delta State, have threatened to shut down oil operations in their area over the failure of oil companies to release funds meant for community development as required by the Petroleum Industry Act (PIA) 2021. In a statement jointly signed by Erere Okpako and Angela Akpofa for the Isoko Grassroot Mobilizers, the stakeholders expressed deep disappointment over what they described as “decades of neglect” despite their contribution to the nation’s oil wealth. They noted that nearly two years after the inauguration of the AIO Host Community Development Trust (AIO HCDT) — the body set up under the PIA to manage development projects — no meaningful action has been taken. Under the PIA, oil companies are mandated to allocate three percent of their annual operating expenditure (OPEX) to host communities through the HCDTs. Of this fund, 75 percent […]
