The New Nigeria Foundation,NNF said there shall be deductions of payment from the 3% by the International Oil Companies,IOCs if they suffer any act of vandalism, sabotage or other civil unrest occurs that causes damage to their facilities or disrupts their production activities by the host communities protest and other activities.
NNF Senior Manager, Eyitime Aremu disclosed this at a one- day sensitisation/ awareness creation workshop component of the Petroleum Industry Act, PIA bridges project implementation process for Host Community Development Trusts and Community Stakeholders.
The programme which was held at Egbokodo-Itsekiri in Warri South Local Government Area of Delta State was facilitated by the New Nigerian Foundation, NNF.
Aremu who was a resource person at the session explained that,”the community shall forfeit its entitlement to the extent of the costs of repairs of the damage that resulted from the activity with respect to the provisions of the PIA within that financial year. Provided the interruption is not caused by technical or natural cause.-Section 257 (2)
According to him,”The basis for computation of the trust fund in any year shall always exclude the cost of repairs of damaged facilities attributable to any act of vandalism, sabotage or other civil unrest. -Section 257 (3) of the PIA.”
