The House of Representatives Committee tasked with investigating the implementation of Corporate Social Responsibility (CSR) by international oil companies operating in the South-South region has issued a stern warning, threatening sanctions against firms disregarding its invitations.
Chairing the Committee, Lilian Orogbu, emphasized the Committee’s commitment to ensuring accountability and responsible corporate practices within the oil sector during a resumed hearing at the National Assembly Complex in Abuja.
Expressing concern over companies ignoring invitations, Orogbu underscored the Committee’s intention to enforce sanctions if necessary, emphasizing that the investigation aims to address grievances raised by host communities and promote a mutually beneficial relationship between oil companies and their surroundings.
Orogbu reiterated the Committee’s objective of fostering a conducive environment for operations while ensuring communities benefit from the presence of oil companies. She emphasized the importance of upholding the principles of corporate responsibility, particularly in light of the Petroleum Industry Act 2021.
Highlighting the economic significance of the South-South region, Orogbu urged participating companies to engage transparently and commit to contributing positively to the socio-economic and environmental well-being of the area.
The hearing, a follow-up to a previous session held on March 6, forms part of ongoing efforts to assess the level of CSR implementation by oil companies. Orogbu emphasized the Committee’s willingness to collaborate with companies to create a win-win scenario that fosters business growth alongside empowered communities.