Acting President Yemi Osinbajo on Friday said oil communities were fundamental to the development plans of the current administration.

He said while speaking during a stakeholders’ meeting in Yenagoa.

He also described Bayelsa state as the “Jerusalem of Ijaw nation”.

He said he was in the state to understand the problems faced by oil producing communities.

“I am extremely pleased and honoured to be here today, visiting the warm, friendly and hardworking people of Bayelsa state,” he said.

“It is a privilege to be hosted in the Jerusalem of the Ijaw nation and to interact with a people whose rich ancestry is notably marked, since the precolonial era, with a determined quest for fairness and justice.

“I am here as an emissary of President Muhammadu Buhari, who after the visit of leadership of The PAN DELTA FORUM in November 2016, decided that we must undertake visits to engage with the leadership and people of our oil producing communities, to hear them, to seek to understand their problems and concerns first hand and to offer to these communities in the Niger Delta, a new vision and a new compact.

“It is in this great state of Bayelsa, precisely at Oloibiri that the history of oil exploration in Nigeria began. It is here that this great source of the wealth of our nation was discovered. And this oil became the source of 70% of our national earnings and 90% of our foreign exchange earnings.

“Over 50% of non-oil revenues is determined by oil revenues. But for the people of historic Oloibiri and the many oil-producing communities in this state and the Delta region of Nigeria, the blessing of oil paradoxically became a curse or at best a burden.”

Osinbajo admitted that the region has been admitted for too long.

He also advised the youth not to be forced into destructive acts, but to rather come up with ideas that could put the region in the spotlight.

“India does not have a drop of oil but it now home to the largest refinery of petroleum in the world,” he said.

“I want to challenge the young professionals and entrepreneurs to set up a Niger Delta Chamber of Commerce and Entrepreneurship Council. Where we can identify those involved in technology, agriculture, oil and gas, manufacturing and the professions. A chamber of commerce properly organised will attract the right kind of local and international partnerships and even funding. I am prepared to work with you on that.

“Today new investments in the oil and gas sector have slowed down so badly because investors have a choice all over the world, even here in Africa, and they will not put their resources in a dangerous or unstable environment.

“This is why our oil producing communities must now refuse to participate in the destruction of pipelines and oil facilities. Aside from loss of revenues this also means further pollution of the land and aqua culture.

“We must not allow anyone to persuade us that we need to destroy investments, pollute our environment to prove a point or to get a few benefits. That is cutting our nose to spite our face!

“From 2015 Nigeria began to lose 1 million barrels of oil daily. Almost 60% of revenues lost to vandalisation. This affected all states, and especially states in the Niger Delta region.

“Your Excellencies, your Royal majesties and the great people of the Ijaw nation, we must make haste. We must move quickly.

“Day by day, the world is moving away from oil. Other energy sources are getting cheaper, America that used to be the largest importer of our oil, has not imported one drop of our oil since they started producing from Shale.

“Our oil now sells to Asia, but even they do not plan to depend on oil forever. China and Japan are now manufacturing electric cars.

“In Japan there are more charging stations for cars than petrol stations. We must be wise, to use our oil for development when it is still valuable. Our guarantee of future well-being is to act today. It is time to set our sights on a great future for our people.”