House of Reps Public Hearing Day 2 – Pandef, PCTS & Ovia Ethnic Nationality

Petroleum Contractors Trade Section

  • Give consideration to global competitiveness
  • Adverse impact of the fiscal terms on deepwater will have a significant impact on jobs in the industry


  • Hostcom should be empowered to set up the National host community trust fund
  • 10% equity contribution with 5% taken from NNPC and 5% from the IOCs

Ovia Ethnic Community

  • Communities to be shareholders in the oil and gas companies
  • Shares should be given to Nigerians
  • Host communities should be properly identified
  • Headquarters of oil companies should be where oil is produced

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