president’s assent in May would seem a welcome development for stakeholders. However, roadblocks are being mounted by major stakeholders, which could affect the early passage of the bill.
The 2.5% proposal in the current bill is the source of agitation among host communities, who insist on 10%, which Yar’Adua presented, saying anything less than 10% will be an effort in futility. The Senate is stuck at determining what percentage to be given to host communities, which is the major point of disagreement that has stalled passage of the PIB since 2007.
While rejecting the 2.5% provided in the current PIB, HOSTCOM at the public hearing at the Senate made it clear that nothing short of 10 per cent would be acceptable to them. “Regarding the environmental management and sustainable development of the host communities, it’s imperative that all laws and policies precedent to the commencement of any action plan must conform with existing international standards inherent in our submission.”IN their own presentation, the Oil Producers Trade Section , led by Mr. Mike Sanger, made a case against the Bill for not making serious provisions for investment in the oil and gas sector.
Also, Women In Energy Network has raised concerns over the proposal in the Petroleum Industry Bill which stated that “each settlor, where applicable through the operator, should contribute an amount equal to 2.5% of actual operating expenditure in respect of all petroleum operations.” He recommended a governance model that does not provide a uniform governance structure for all the host and impacted communities.According to him; “The different oil-producing communities have their peculiarities. Therefore, the governance and management structure should be left for the different communities to decide. The governance and management structure of the EGCDF has proven to be effective and acceptable to all parties concerned, and we are comfortable with it.
MEANWHILE, President of Senate, Ahmad Lawan, said the National Assembly in its consideration of the piece of legislation, would ensure that the bill when passed into law, guarantees improved revenue earnings for the country.
How much does a man really need to be satisfied. We sleep and wake up without our powers. Yet, refuse to bow to Allah. We shall, very soon bow to the cold hands of death and judgement follows. So, prepare your grave, well or bad. Such a powerful day.
Preach peace and stop all these animalistic mentality of tribe, religion and race thing. Sm pple tweet for selfish political ambitions. So that they'll be loved. Dis does not concern Allah, He sees our hearts, clean or evil, as we think. Fire in d grave is waiting 4 d wicked
In our comfort zone, we tweet all sort of sentimentally based grammars. If we don't know, get it clear today that when there is war, all social media platforms and means of communication will be grounded. If we r not directly affected, our loved ones wld. Preach peace always.
We are all pretending all is well. By now, a state of emergency wld have been declared on insecurity. All we propagate is self interest.
Insecurity be made a major national issue and be debated. In a sane environment, someone wld have resigned by now. Sit tight leaders. Will we all meet in the grave and judgement awaits us all. Few are enjoying at d expense of millions. Allahu Akbar!
Debating petroleum industry bill while insecurity is ravaging us. Insecurity shld be our most pressing problems right now. Where is our conscience. You'll now say pple shld not take laws into their hands. As elites, there's what we can bear that d have not canot bear. Ungodly...