Frontier Oil Limited/Seven Uquo Gas Limited has commended the host communities of Eket and Esit Eket in Akwa Ibom for guaranteeing conducive environment for the company to operate.
The Managing Director of FOL, Mr. Dada Thomas gave the commendation on Thursday in Uyo while signing a revised Memorandum of Understanding, MoU with Akwa Ibom State Government and host communities of Eket and Esit Eket.
The MoU which is to subsist for a period of five years provides that the immediate host communities have 32 per cent, while host communities of Eket, Esit Eket, and the state government were accommodated by 30 per cent, 28 per cent and 10 per cent respectively in the agreement.
Managing Director who urged the MoU implementation committee to work towards implementing the agreement reached in good spirit to enable the company succeed thanked all parties to the agreement for their patience and understanding.
He assured that the company would ensure full implementation of the Memorandum of Understanding to the admiration of all parties.
“We will do our best to implement the MoU which we have just signed. We will make sure that every letter in the MoU counts.” He stated.
On his part, the Akwa Ibom state Commissioner for Environment and Mineral Resources, Dr. Iniobong Essien, explained that the first MoU which lapsed on February 9, 2016 was subjected to in-house review by the MoU implementation committee.
He said that MOU engenders mutual trust and reduces the likelihood of unfair dealing from all parties because it imposes transparency and accountability in the community and company relation
He described the documents as an important tools for building partnership and sustaining development within host communities.