AKWA IBOM ENVIRONMENT COMMISSIONER BACKS BILL TO ESTABLISH IBOM OIL AND GAS CORPORATION

By Asuquo Edem

The Honourable Commissioner for Environment and Mineral Resources, Rt. Hon. Nsikak Ekong, has thrown his weight behind the proposed bill to establish the Ibom Oil and Gas Corporation, describing it as a bold and strategic step toward sustainable development and economic self-reliance in Akwa Ibom State.

The Commissioner’s keynote address was delivered on his behalf by the Permanent Secretary of the Ministry, Iquo Abia, Esq, during a public hearing held at the Old Chapel of the Akwa Ibom State House of Assembly, Sir Udo Udoma Avenue, Uyo.

In his address, the Commissioner hailed the initiative as a "significant milestone" in the state's ongoing efforts to harness its vast petroleum resources for the benefit of its citizens. He emphasized that the proposed corporation aligns with Governor Pastor Umo Eno’s ARISE Agenda, specifically section 6.12.1, which advocates for increased direct participation in oil and gas projects across upstream and downstream sectors.

“The proposed oil and gas corporation will play a pivotal role in shaping the future of our energy sector,” the Commissioner stated. “It will optimize resource utilization, stimulate economic growth, and ensure transparency and environmental responsibility.”

Key Objectives and Benefits

Rt. Hon. Ekong outlined several objectives of the bill, including:

Efficient exploration and management of oil and gas resources,
Generation of employment and increased state revenue,
Promotion of transparency and environmental sustainability.

He added that the corporation would attract both local and foreign investments, build local capacity, and enhance the state's energy security through a more stable supply of petroleum products.

Acknowledging the Challenges

While highlighting the prospects, the Commissioner also acknowledged the challenges ahead, especially in balancing economic gains with environmental and social responsibilities.

“We must approach this opportunity with caution, ensuring that development does not come at the expense of sustainability or community welfare,” he noted.

Call to Action

He concluded with a passionate call for public and legislative support, urging stakeholders to rally behind the bill to secure a prosperous future for Akwa Ibom.

“Together, we can harness the power of our petroleum resources to build a brighter future for ourselves and generations to come.”

The public hearing attracted lawmakers, stakeholders in the oil and gas sector, civil society groups, and members of the public, all eager to contribute to the shaping of the state’s oil and gas future.

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