Niger Delta
Niger Delta Insecurity: FG Losses N490bn
The Federal Government has said that it lost a total sum of N490 billion from 2004 to 2007 due to the insecurity experienced in the Niger Delta region.
The Minister of State, Niger Delta Affairs, Elder Godsday Orubebe disclose this at a one-day seminar organized by the specialized Marine Transport Trade Group forum organized by Port Harcourt Chmaber of Commerce, Mines and Agriculture, on Saturday in Port Harcorut. The theme of the seminar was “Re-integration of corporate social groups and society in the Niger delta.”
According to him, the amount lost, if recircled into the economy would have been able to foot the cost of building 14 refineries in the country. He stressed the need for corporate bodies, individuals and relevant agencies to join hand in actualizing the reform agenda of the federal government as well as compliment the efforts of the federal Government the efforts of the federal government in the rehabilitation and re-integration programme for the repentant youths.
The Minister of State who was represented by a Director, Dr. O. T. Elem called for sustainability of the existing peace in the state, noting that insecurity has brought about loss of over 5,000 jobs in recent time.
In a paper presented by the chief of Naval Staff, represented by Rear Admiral E. Ijeoma, noted that Niger Delta accounts for over 90 per cent of Nigeria’s foreign Exchange earnings, amounting to $450 billion between 1957 and 2007.
He regretted that insecurity and vandalisation of pipelines has caused the nation social and economic harm, resulting to loss of jobs and shortage of power supply, saying that individuals, communities, corporate bodies and government have role to play in tackling the challenges of insecurity in the country.
The President, Port Harcourt Chamber of Commerce Industry, Mines and Agriculture PHCCIMA, represented by the 2nd vice president Emeka Onachukwu lamented how government wrong business policy has affect the organised private sector, stressing that inspite of the challenges some corporate bodes have made meaningful impact on the well being of the people of the Niger Dela.