Corruption is a drawback to the nation’s development, Charles Nwodo said.
The former National Chairman of de-registered Progressive Action Congress, PAC, Charles Nwodo, said the general welfare of Nigerians should dictate the use of excess crude oil proceeds.
Mr. Nwodo said on Wednesday in Abuja that proceeds from oil had not accelerated the development of Nigerian like other oil producing nations.
“It appears ours is not only a conduit pipe for corruption and agent of disunity among Nigerians, but also a drawback to the nation’s development.
“It has been proved that the volume of allocations states received have not actually translated into meaningful development. It must serve as a means of promoting peace and conducive environment for further development,” he said.
Mr. Nwodo expressed support for the proposal that 10 per cent of the crude oil proceeds be paid as compensation to the host oil communities.
He said the percentage should be a subject of collective bargaining between the oil communities and the oil companies in a democratic setting like Nigeria.
He also urged the Federal Government to harness the solid minerals in the country’s wealth creation and provision of employment opportunities for the youth.
Mr. Nwodo expressed optimism that such move would douse the tensions and restiveness of idle youths and other miscreants.
He advised the National Assembly to rise above issues like ethnicity, religion, regionalism, nepotism, while discussing the host community fund and the Petroleum Industry Bill, PIB, in general.
Meanwhile, an Environmental Rights Group has called for the review of the petroleum host community fund in the Petroleum Industry Bill, PIB, before the National Assembly.
Nelson Nwafor, the Executive Director, of the Foundation for Environmental Rights, Advocacy and Development, made the call in an interview in Aba.
Mr. Nwafor said that there is the need to know who would control the fund because some stakeholders in the industry might not support it.