The youths, who were no fewer than 2,000, started the protest at about 9am with the women dressed in black attire.
Our correspondent who visited the place reports that the protest paralysed commercial activities and disrupted vehicular movements in the area.
The irate youths carried placards with inscriptions, such as “Mobil, keep our money for proper sharing”, “The youths demand five per cent of our N144billion oil spillage”, “We say no to N120million residential building for paramount ruler”, “Tell us who will manage the hotel complex and the mega filling station?”.
It would be recalled that Mobil promised to pay N7 billion as development funds to the core oil communities in Akwa Ibom State to execute projects for the development of the areas.
The leader of the youths, Mr Patrick Owodo, alleged that the paramount ruler of Esit Eket, Chief Ubong Assam wants to use the development funds to put up a residential building and buy a bullet proof car for himself.
Owodo explained that the protest was as a result of injustice by the elders against the youths and women of Esit Eket.
He said that out of the N7billion, N1billion was proposed for coastal communities such as Mkpat Enin, Ikot Abasi and Eastern Obolo local government areas respectively.