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Rivers lawmaker, Dagogo urges IOCs to do costing of crude in local currency

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Tiamiyu Saheed Oluwatosin
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calendar-icon Posted on: 2019-09-11 08:45:36
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Member representing Degema/Bonny federal constituency in the House of Representatives, Hon. Farah Dagogo, has urged multinational oil companies to do costing in Nigeria’s local currency instead of in dollars.

Speaking with Press in Abuja on Tuesday, the lawmaker frowned at the manner with which oil companies operating in Nigeria undermined the nation’s currency when it comes to crude oil transactions.

He noted that Nigeria is a mono economy that relied on oil revenues heavily, saying oil majors ought to have domesticated all transactions in the country by now.

The lawmaker cautioned oil companies in Nigeria to avoid what he called, “double standard in their operations”, saying that, “Shell Petroleum Development Company has been contemptuous in regard to laid down rules in their operations in the Niger Delta.

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“Shell Petroleum Development Company, SPDC, has no regard for laid down rules in their operations in the Niger Delta.”

“Their operations has gravely undermined the economy of the country that is reliant on oil revenues from the Niger Delta region”, the lawmaker insisted.

Dagogo said, he would sponsor bill to compel oil majors to stick to their corporate social responsibility in order to correct the wrongs going on in the region.

As stated by him, SPDC was not making effort to shore up oil revenue for the country, adding that the actual production per day and its cost be revealed.


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The lawmaker further urged oil companies to stop blame game on environmental ruins of the Niger Delta, stressing that pipeline vandalism wasn’t the sole cause of environmental degradation in the region.

He further urged officials of oil companies to consider the interest of the people particularly those who hail from the region.

“Igo Weli, who is an SPDC’ official, and the son of the Niger Delta, should defend the interest of the region or even speak truth to his bosses.”

“You recalled that in 2010, the Vice-Chairman, Ethical Affairs Committee, Royal Dutch Shell, Bradford Houppe, in an unprecedented Public Relations Campaign, ‘The I am sorry Campaign’, publicly apologized and admitted the pains, woes, devastation and criminal activities they imported into the Niger Delta.

“The company said it was sorry for the oil/gas spill, for making our rivers toxic.”

“This public apology was done in the Hague, in the full glare of the world. Regrettably, some years down the line, a Nigerian, a son of the Niger Delta, is attempting to rewrite history.”

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