Failure To Comply With Petroleum Act Undermines Economic Growth In Imo- Reps

The House of Representatives has warned that the failure of oil and gas companies to comply with petroleum and local content laws is depriving Imo State of jobs, revenue, and community development.

This followed the adoption of a motion by a member from Imo State, Chike Okafor during plenary, which alleged that several oil firms had failed to establish operational offices in Imo or employ qualified local workers as required by law.

The Lawmaker noted that the non-compliance with the Petroleum Industry Act (PIA) 2021 and the Nigerian Oil and Gas Industry Content Development, NOGICD, Act 2010 was undermining economic growth and local participation in the oil sector.

Okafor said companies such as Seplat Energy, Waltersmith Petroman, TotalEnergies, and others had also obstructed lawful revenue activities by the Imo State Internal Revenue Service, thereby denying the state the much-needed funds for infrastructure and social services.

The House directed the firms to urgently comply with employment, taxation, and host community development provisions, warning that continued violations could heighten tensions and disrupt production in the oil-producing areas of Imo State.

Oduyemi Odumade, Edited By Grace Namiji