Aiteo swells Bayelsa Education Development Fund with N0.5bn

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Aiteo Eastern Exploration and Production Company has pledged N0.5 billion to the Bayelsa Education Development Trust Fund (BEDTF) at the fund raising ceremony in Yenagoa at the weekend.

Managing Director, Victor Okoronkwo pledged the sum on behalf of the Founder of Aiteo Group, Benedict Peters while bemoaning frequent vandalisation of the Nembe Creek Trunkline (NCTL) linking its oilfields in Bayelsa to Bonny Export Terminal.

Speaking at the Chief DSP Alamieyeseigha Banquet Hall, venue of the fund raising, he stated that the donation was an indication that Aiteo shared the aspirations of the state government in seeking to use education to fight youth restiveness.

Okoronkwo expressed optimism at the pledge of Governor Henry Seriake Dickson to provide an enabling environment for the operations of the indigenously oil firm in the state.

His words: “I wish to state here that our business as operators of the OML 29 has not been stable; it has been up and down and we are pleaser by the assurances given by the Bayelsa government.

“We are being hosted by Bayelsa and we see Bayelsa as home: we are here to stay and we want the people to understand that oil and gas investments are for the long term.”

Earlier, Bayelsa State Governor, Henry Seriake Dickson said that his administration had invested about N80 billion in the education sector from 2012 till date and initiated the fund in 2017 with a view to sustaining it beyond his tenure in 2020.

Dickson explained that the state government has dedicated 10 percent of its monthly internally generated revenue to the BEDTF in addition to monthly contributions by all public servants in the state.

BEDTF chairman, Turner Isoun, a former Minister of Science and Technology had disclosed that the fund had over N1.0 billion under its … Read More...

Aiteo, Chevron reiterate commitment to host communities, Nigeria

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Aiteo has reiterated  commitment to continue work with its host communities to achieve an amicable relationship.

The pledge came following a protracted engagement between the company and Nembe community.  Following this development, the host community, which protested neglect by the company, had to disband the barricade placed on the company’s yard in Nembe.

Aiteo however alleged that Nembe community provides most of the supply, logistics and security contracts going into its local operations.

“Apart from encouraging community participation in this manner, the company has, in addition, continued to provide considerable amenities and services directly to the community in a most beneficial and impactful way. Hence, we remain open and are committed to constructive dialogue for the development of both the nation and the community”.

It stated that it is instructive that the barricade of its company is coinciding with the resumption of operations of the NCTL. “These disturbances disrupt our operations and lead to production deferment which affects not just the company but revenues accruing to the government and people of Nigeria”, the company stated

Meanwhile Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL (NNPC/CNL JV), said it is aware of  protest by some members of Ugborodo community in its Escravos operations over alleged CNL’s neglect of their community in the provision of social amenities, employment and contracts.

“CNL wishes to state that the allegations are not true. In fact, CNL has a long-standing relationship with the Ugborodo community which dates back to years before the establishment of its new community-driven participatory partnership model for community development known as the Global Memorandum of Understanding (GMoU”

“The needs in many communities, including Ugborodo community, are many and varied requiring the support and intervention of multiple stakeholders Read More...