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The politics, history of Petroleum Industry Bill
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House of Reps, Senate pass Petroleum Industry Bill
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BREAKING: Reps Pass Petroleum Industry Bill
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Reps receive report on Petroleum Industry Bill
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In January, when representatives of oil-producing communities converged at the National Assembly for a public hearing on the controversial Petroleum Industry Bill (PIB), they turned the venue into a wrestling ring. The visitors from Niger Delta were in Abuja to clarify their interests in the bill and protest perceived injustice by the federal government and oil companies. Among their demands was a 10% equity shareholding in the oil companies operating in their communities. This was against the provision of the bill, which provides for the creation of Petroleum Host Communities Fund (PHCF) to grant the victimized people 2.5% of the oil companies’ actual operating expenditure for the preceding year.