International oil companies (IOCs) operating in the Niger Delta region have been directed by the Senate to move their headquarters to their states of operation.
The resolution was passed by the upper legislative chamber during a plenary session on Tuesday, after the adoption of a motion sponsored by Albert Akpan, a lawmaker from Awka Ibom.
There has been clamour for IOCs and their subsidiaries to be relocated from Lagos and Abuja to the oil-producing states in the south-south region.
Vice-President Yemi Osinbajo, in March 2017, also supported the call, noting that it will mitigate tension in host communities.
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Senator Akpan who led the debate on the motion stated that the relocation of the IOCs to their host communities will enable development in the areas.
He also noted that the IOCs ought to relocate to the region because they used to operate there before they left “due to some reasons”.
“The companies attributed their operation outside their host communities to insecurity and hostilities in the host communities,” he said.
“Their operation outside of host communities and operational base accounted for the high cost of oil and gas production.
“This is a big setback to the country’s oil and gas industry and it is militating against maximum revenue from crude oil and gas sales to the federation account.”
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