Simple Kanabe, member of the South South People’s Assembly, has commended President Umaru Yar’Adua for the reservation of 10 per cent equity in oil and gas investments to host communities.
He told the News Agency of Nigeria (NAN) in Benin that, although the presidential pronouncement took some people by surprise, the decision would go a long way to check agitation in the Niger Delta.
He said: “Although the equity lifeline is short of resource control, it is a step in the right direction. The pronouncement by President Yar’Adua shows that he is seriously thinking about Nigeria.”
He, however, said that the local content of the 10 per cent equity could be explosive and advised that necessary measures be harnessed to avert any problem.
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