The dispute around the Oil Mining Lease – OML 25 in Rivers state that set the communities at daggers drawn with Oil giant, Shell Petroleum Development Corporation in Akuku-Toru local Government has been resolved.
The feuding group at the signing of the dispute closure agreement in Abuja, agreed that operations at the oil well would soon resume.
This protracted feud cost Nigeria a loss of more than 700 Billion Dollars.
The disagreement brought attention to Akuku-Toru Local government and the underdevelopment the people have suffered for decades.
They accused Shell petroleum development corporation of failing to develop their community, give employment to their youths and provide economic empowerment.
The three aggrieved communities also demanded that OML 25 should be handed over to Belema Oil an indigenous Oil firm.
But now, this has been resolved.
This new found peace is expected to restart Oil exploration in the area, but this time with a new rules of engagement that is beneficial to the host communities.
