After over 13 years of failed attempts, the Ninth National Assembly has finally passed the long awaited Petroleum Industry Bill, report Deji Elumoye and Udora Orizu Report
Nigeria, for about one and half decades, has been on a journey with the Petroleum Industry Bill (PIB), with a lot of anticipation and promises, which failed overtime in previous National Assemblies. However, two years into the Ninth Assembly, the two chambers at plenary on July 1, passed the Bill for third reading after duly adopting all the 318 clauses as recommended by the Committee on PIB after some amendments. With this latest development, it seems the Ninth Assembly is set to make history, if the PIB is eventually assented to by President Muhammadu Buhari.
…As host communities insist on 10 per cent equity
By Levinus Nwabughiogu
Nigeria has elected to join the global community in achieving complete elimination of gas flaring in 2025.The Minister of State for Petroleum Resources, Chief Timipre Silva gave the commitment at a public hearing on “Need to End Gas Flaring in Nigeria and Harness Associated Gas” in Nigeria, organized by the House of Representatives Joint Committee on Gas Resources, Environment and Climate Change in Abuja yesterday.
Gas flaring is the combustion of associated gas generated during various processes, including oil and gas recovery.
Speaking at the hearing, Sylva noted that gas flaring had been reduced to eight per cent. In the country at present, adding that by 2025, it would be completely eliminated.
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The Minister of State for Petroleum Resources, Timipre Sylva, has faulted the position of host communities who are insisting on collecting 10 per cent of the operating expenditure of the oil firms to set up a trust fund.
The leaders of the oil rich areas under the aegis of the Host Communities of Nigeria Producing Oil and Gas, had on Tuesday, openly rejected the 2.5 per cent proposed for them in the Petroleum Industry Bill 2020, being considered by the joint Senate Committee on Petroleum Resources, (Downstream, Upstream and Gas).
They insisted that nothing short of the 10 per cent of the operating expenditure they were demanding would be acceptable to them because the proposed 2.5 per cent was grossly inadequate to provide basic social amenities and improve the standard of living of their people.
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has urged the federal government to scrap the Niger Delta Development Commission (NDDC). The National President of HOSTCOM, High Chief Benjamin Tamaranebi made the call on Tuesday in an interview with journalists at the side-line of the public hearing on Petroleum Industry Bill (PIB) 2020, […]
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Leaders of the Host Community of Oil Producing Areas, on Tuesday, called on the Federal Government to scrap the Niger Delta Development Commission and transfer all its allocations to them for effective management.
The President, National Executive of the Host Communities of Nigeria Producing Oil and Gas, High Chief Benjamin Tamaranebi, stated this while addressing journalists on the second day of the public hearing on the Petroleum Industry Bill by the Senate joint committee on petroleum upstream, downstream, and Gas.
He said with the reduction of the host community development trust fund from 10 per cent in 2008 to 2.5 per cent in 2020, PIB proposed documents would deny the people the required funds to develop their areas.