PIB: 3% Stake For Host Communities Threat To Investment In N'Delta

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

The refusal of the National Assembly to allocate 5% equity to the host communities in the Petroleum Industry Bill (PIB) recently passed into law, poses a

threat to the peace of the Niger Delta region and as well as investments and investors in the oil and gas industry.

The lawmaker said the when the PIB was introduced under the late President Umaru Yar’Adua administration, 10 per cent stake was proposed for the host communities and another 10 per cent for frontier development, adding that it was unfortunate the bill cannot be passed at the time.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines