Impeachment Threatens Ogoni Oil Restart, FG Risks $30m Daily Revenue – MOSOP

The Movement for the Survival of the Ogoni People (MOSOP) has warned that the impeachment process initiated by the Rivers State House of Assembly against Governor Siminalayi Fubara could jeopardise the peaceful resumption of oil exploration in Ogoniland.

MOSOP said the federal government risks losing more than $30 million in daily revenue from the planned production of 500,000 barrels of oil per day in the area if the escalating political crisis is not checked.

In a weekend statement issued in Port Harcourt, MOSOP President Fegalo Nsuke described the development as unfortunate, noting that it comes at a time when the federal government was close to achieving a breakthrough for the smooth return of oil operations in Ogoni.

He stressed that political instability discourages investment, warning that the unfolding situation could scare away potential investors.

“If the federal government taps 500,000 barrels of oil daily from Ogoni, we are talking about over $30 million per day in revenue. But with a crisis like this, which investor will want to put money in such an environment? The lawmakers should have a rethink,” Nsuke said.

Nsuke further described the impeachment move as a direct affront to the mediation efforts of President Bola Ahmed Tinubu, who has been personally involved in resolving the Rivers State political crisis.

According to him, serving an impeachment notice on the governor after presidential intervention raises questions about the Assembly’s loyalty to the President and could have negative international implications.

“The impeachment move against the governor is embarrassing and hurts the global image of the country, given that the issues were presumed resolved through Mr President’s intervention,” he said.

“Going ahead with this impeachment is not only an assault and embarrassment to the mediation efforts of Mr President, but it also questions his influence on his party and embarrasses the country globally.”

Nsuke called on the Rivers State House of Assembly to halt the impeachment proceedings against Governor Fubara in order to protect Nigeria’s image and preserve the integrity of President Tinubu.

Recalling earlier political conflicts that led to the suspension of both the governor and lawmakers for six months, Nsuke noted that presidential interventions had previously restored calm, leading to the recall of both parties and their eventual defection to the ruling party.

“One would presume that Mr President’s intervention brought reconciliation. It is therefore embarrassing to see tensions resurface in less than six months over an issue he was directly involved in resolving,” he added.

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