PALM BAY, Grand Bassa—LIBINC Oil Palm Incorporated’s management has presented a symbolic cheque for one percent of its annual gross sales to communities directly affected by its operations in Grand Bassa.
LIBINC operates in the county’s fifth electoral district. The company’s 2008 concession agreement with the government requires it to pay one percent of its annual gross sales to a community development fund for the affected communities.
LIBINC Executive Director Sashi Nambiai made the presentation and said he hoped the contribution would help spread development across the district.
Nambiai thanked the government and local leaders for the cordial relationship and hoped the stakeholders would continue working together for progress. He did not disclose the dollar value of the one percent but promised that the process would be transparent.
“We cannot tell you right now how much the one percent is, but when it is time to put the money in the district’s account, everyone, including the affected community’s leadership, the Bureau of Concessions, [and] internal and external auditors will sit to do calculations from our annual sales document to determine how much is the one percent,” he said.
LIBINC Executives and officials of government. Photo by Alexander Musa, Jr.
He clarified that the one percent remittance to the district account begins in 2022 when the company started making sales.
Edwin Dennis, director general of the National Bureau of Concessions, was also at the program. He said the purpose of the one percent is to ensure host communities do not resent the concessions operating on their land.
Dennis said the process also allows for the community to prioritize which development the funds can be used for. He encouraged the local communities in the operating areas to set up a team to manage their funds. He said the funds would be placed in a separate account to be used only for development within the community.
“Nobody will receive any money,” Dennis said. “When the affected communities come up with a project, the Community Development Fund Committee, [the] government, and the company will work together to do the selected project, but not to give cash to anyone.”
He said that while the affected communities have elected their leaders, they must be trained and draw up their rules on how to manage the funds and who will manage them, all in consultation with the county’s leadership, the Concessions Bureau, and the local communities.
Dennis cautioned community members to remain peaceful and cooperative in dealing with the concessionaire, advising that they alert the authorities whenever there is an issue instead of engaging in violence.
For his part, Andrew G. Totimeh, the elected chairman of the affected communities, promised the communities’ unwavering support for LIBINC’s business and operation. Totimeh also warned his community against theft of the company’s assets.
“If you are among us here and [have] been stealing the people’s palm, I’m calling on you now to stop because we are going to be eyes for the company out there,” he said. “If you don’t stop and when you fall in our trap, we will turn you over to the law.”
Featured photo by Alexander Musa, Jr.
