Senate Kicks Against Chevron, Exxon Extractive Operational Model, Lauds NCDMB

Senate through its committee on Local Content in an interactive section with the National Content Development and Monitoring Board was impressed with the disclosure made by the Executive Secretary of NCDMB , Engr. Felix Ogbe on $50million grant for research and $20m dollar for women in oil and gas.

The National Content Development and Monitoring Board ( NCDMB), also told the committee to invite the oil companies for explanations on their extractive mode of operation without manufacturing content.

The committee during its interactive session with management of NCDMB on Wednesday , specifically lamented that while Chevron apart from crude oil exploration in Saudi Arabia , also manufactures Polypropylene one of the waste products from Gas to produce Syringe which fetches Saudi Arabia $6billion annually.

It added that Exxon oil does same in United States of America ( USA) , by making the country , the third largest producer of Polypropylene (PP) .

The Committee chaired by Senator Natasha Akpoti - Uduaghan ( PDP Kogi Central) , wondered why the same international oil companies exploring crude oil in Nigeria , don't go the extras mile of using waste products from Crude oil for manufacturing of needed products in the country.

The lacuna in the operational model of the International Oil companies according to the committee, led to the collapse of Jubilee Syringe Plant in Bayelsa due to lack of the needed raw material ( Polypropylene).

According to the Chairman of the committee, since NCDMB says it doesn't have the power to make the international oil companies diversify their mode of operations , they shall be summoned to give explanations on why they are turning Nigeria to extractive zone and not manufacturing one , as done in other climes .

ÔÇØ We cannot just allow the oil companies to turn Nigeria to just an extractive zone as far as exploration of crude oil is concerned but a manufacturing one as well with attendant economic value .

ÔÇØ This committee shall therefore summon the affected oil companies to appear before it on how what are available in Saudi Arabia , USA etc , can be replicated in Nigeria ", she said.