The Movement for the Survival of the Ogoni People (MOSOP) has warned that the impeachment move against Rivers State Governor, Sir Siminalayi Fubara, could derail the planned resumption of oil production in Ogoni, costing the Federal Government over $30 million daily in revenue.
MOSOP raised the alarm in a statement issued in Port Harcourt by its President, Fegalo Nsuke, saying the escalating political crisis could scare away investors and threaten the fragile peace needed for oil exploration to resume in the area.
According to Nsuke, Ogoni has the capacity to produce about 500,000 barrels of oil per day, translating to more than $30 million in daily revenue, but warned that no investor would commit funds in an atmosphere of political instability.
“If the Federal Government taps 500,000 barrels of oil daily from Ogoni, we are talking about over $30 million every day. But with this political crisis, which investor will want to put money in such an environment?” he asked.
Nsuke described the impeachment proceedings initiated by the Rivers State House of Assembly as ill-timed and capable of undermining the mediation efforts of President Bola Ahmed Tinubu, who had earlier intervened in the political crisis in the state.
He said pushing ahead with the impeachment despite presidential intervention sends a wrong signal locally and internationally, and could damage Nigeria’s image.
“Going ahead with this impeachment is not only an embarrassment to the mediation efforts of Mr President, it also questions his influence and paints the country in bad light before the international community,” Nsuke said.
The MOSOP leader therefore called on the Rivers State House of Assembly to halt the impeachment process in the interest of peace, national image and economic growth.
He recalled that previous tensions between the Assembly and the governor had led to their suspension before presidential intervention restored calm, stressing that renewed hostilities barely months later were unnecessary and counterproductive.
Nsuke urged all parties to embrace dialogue and stability to safeguard Ogoni’s economic future and Nigeria’s expected oil revenue gains.
