NAPIMS directs oil firms to fund N’ East IDP projects

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The National Petroleum Investment Management Services (NAPIMS), an arm of the Nigerian National Petroleum Corporation (NNPC), has directed operators in the petroleum industry to contribute to the Internally Displaced Persons (IDP) Intervention Fund for refugees displaced due to Boko Haram attacks in the North East, The Guardian reports.

A letter to the operators, shows that contributions will be made to a proposed “Dedicated Account,” while specific areas of infrastructure development interventions were spelt out, which should be “treated as urgent.” Although the NAPIMS’ directive did not indicate how much the IDP Fund is, it was learnt that each operator is expected to contribute at least $100 million annually to the fund.

According to the national daily, the directive is coming as a surprise to many analysts, especially as there is already a Presidential Committee on the North East Initiative (PCNI) engaged in various intervention programmes. However the NNPC Group spokesman, Ndu Ughamadu, in a text message to The Guardian, wrote: “The JVs/IOCs under their trade group, OPTS, voluntarily agreed to assist the IDPs. It is part of their corporate social responsibilities.”