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Nigeria: NIger Delta - Sylva Seeks Foreign Intervention
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This Day (Lagos)
2 July 2008
Posted to the web 2 July 2008
Chika Amanze-Nwachuku
Madrid
Bayelsa State government yesterday sought intervention of the international community in the resolution of the protracted crisis in the Niger Delta region.
The State Governor, Timipre Sylva, made the call while speaking on a topic: "Bayelsa State, Oasis of Peace in the Niger Delta," at the Ministerial Session of the World Petroleum Congress (WPC), holding in Madrid, Spain.
According to him, the timely intervention of the international community in the current problem in the oil-rich region, will not only help in the resolution of the crisis, but would unlock about one million barrel of oil per day currently shut-in due to militancy.
He said the conflict in the region where the country's oil and gas is produced has contributed to the spiraling cost of oil in the international market, with its attendant negative impact on western economies.
Silva, who identified the non-implementation of sustainable development programmes by oil companies operating in the region, the collapse of educational sector, which resulted in the high unemployment and poverty levels, collective neglect of the region by past administrations at both the state and federal levels as what led to the crisis, assured that Bayelsa on its part, has taken several steps to address some of the causes of the problem.
According to him, Bayelsa currently produces about 22 per cent of Nigeria's crude output, adding that that informed the reason why the state government has not rested on its oars to ensure sustainability of peace in the state.
Towards that end, he said government has put in place some skill acquisition programmes to engage the youths, while major oil companies have developed Global Memorandum of Understanding with communities, in collaboration with government.
Earlier in his paper, "Reforming the Nigeria Oil and Gas Industry As a Catalyst for Economic and Social Development," Minister of State for Petroleum, Odein Ajumogobia, SAN, expressed concern over rising oil prices, noting that for Nigeria, the price surge translates to macro-economic volatility which affects growth rates, inflation, trade portfolio, exchange rates and inevitably constrains planning.
"As a long term solution, he canvassed that an appropriate volume of investments in the oil and gas sector both in Nigeria and elsewhere would assure adequate future supply towards meeting protected global demand for energy".Meanwhile, oil prices jumped beyond $141 a barrel yesterday after President of the Organisation of Petroleum Exporting Countries (OPEC), Chakib Khelil, said there was uncertainty surrounding future investment in facilities to boost crude output.
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New York's main oil contract, light sweet crude for August delivery, was up with $1.40 at $141.40 a barrel at about 0820 GMT, while Brent North Sea oil for August delivery climbed from $1.50 to $141.33 a barrel. On Monday, crude futures struck record high levels close to $144, as the US currency remained weak against the euro, traders said.
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