The Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for the host communities, it was passed after the clause by clause consideration of the report of the joint committee on Petroleum (Upstream, Downstream and Gas) on PIB.
The Senate approved three per cent for the host communities despite protests from the South-South lawmakers, who advocated 5 per cent. Senate President, Ahmad Lawan said the Ninth National Assembly has achieved one of its fundamental legislative agenda. “The demons (of PIB) have been defeated in this Chamber. We have passed the bill.”
The House of Representatives also passed the Petroleum Industry Bill (PIB). Rep. Mohammed Tahir Mongunu, Chairman of the House Adhoc Committee on the PIB, moved for the consideration of the motion. He said: “That the House do consider the Report of the Ahoc Committee on Petroleum Industry Bill on an Act to Provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, the Development of Host Communities; and for Related Matters, 2021 (HB. 1061) and approve the recommendations therein.