The National Assembly; including both the Senate and the House of Representatives on Thursday and in their respective chambers passed the Petroleum Industry Bill (PIB) which unfortunately approved 3 per cent for the host communities.
Although the Senate approved three per cent for the host communities despite protests from the South-South lawmakers, who advocated 5 per cent.
Whereas several Niger Delta activists are bracing up for showdown over what they described an infinitesimal 3%, the passed PIB scraped some existing agencies in the ministry including the NNPC.
Business Hilights gathered that the upper chamber passed the PIB, 2021 after the clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB.
The Senate had before then, held a closed session with the Minister of State for Petroleum, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari.
Senate President Ahmad Lawan congratulated the lawmakers and 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,” he averred.
He further disclosed that the document would be transmitted to the presidency as soon as possible for the presidential assent.
