Eleme communities protest non-payment of dividends

Hundreds of youths drawn from various communities of Eleme in Eleme Local Government Area of Rivers State yesterday barricaded the entrance gate of Indorama Petrochemical Company of Nigeria over non-payment of the dividends for years by the company.

The protesters mainly women and youths drawn from six host communities of the firm in the local government area shunned entreaties from management of the firm for a meeting, insisting that the Managing Director, Mr Manish Mundra should first resign before any meeting.

The spokesman of the protesters, Benjamin Igokena who spoke to reporters accused the Managing Director of allegedly conniving with a private organisation to short-change the communities of their share of dividends accruing to them since the petrochemical firm was privatized several years ago.

Mr Igokena stated that the private Company was originally set up by the six communities to access dividends on the 7.5 shares conceded to the communities during privatization of the petrochemical company, stressing that the communities had not seen their own share of the money.

He insisted that Indorama should pay the dividends of the communities directly to the host communities, adding that the communities’ employment quota should also be given directly the communities.

He also all Memoranda of Understanding between the communities and the company should be properly documented. saying that “Our to said fertilizer shares must be given to us now.”.

In his reaction the Managing Director of Indorama Eleme Petrochemicals, Mr Mundra denied conniving with the private Company or any person to defraud the communities of their share of the dividends accruing to them.

Mr Mundra spoke through his Special Adviser, Dr Jossy Nkwocha, saying that the firm was going to arrange a tripartite meeting of Ndorama, Elana and the communities representatives to resolve the issues.

While appealing to the protesters to give the company some time to convene the meeting he said Ndorama had been paying every kobo of the dividends accruing to the communities to Elana investment. He also said he did not send any text message dismissing the protesters yesterday morning.