The Senate passed the Petroleum Industry Bill on Thursday, allocating 3% to the host communities.
After considering the report of its joint committee on petroleum (upstream, downstream, and gas) on PIB clause by clause, the upper chamber passed the PIB, 2021.
Despite concerns from South-South members who pushed for a 5% increase, the Senate granted 3% for the host communities.
Before that, the Senate had conducted a closed session with Timipre Sylva, Minister of State for Petroleum, and Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation.
Senate President Ahmad Lawan congratulated the parliamentarians, saying that one of the Ninth National Assembly’s main legislative goals had been met.
“In this Chamber, the devils (of PIB) have been subdued. He stated, “We have passed the law.”
More information will be available soon…