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Vanguard News PIB: Stakeholders want 10% derivation for host communities On By Tordue Salem, Abuja Stakeholders in the oil and gas industry, Thursday demanded a raise of the oil operating expenditure from 2.5 per cent to 10 per cent for host communities in the new petroleum industry bill (PIB). The position of the stakeholders to the National Assembly was presented by the executive director/publisher of Order Paper, Mr Oke Epia at a one-day workshop tagged “Reforming the oil and gas sector in Nigeria-strategy meeting on post-hearing engagement on the PIB” organised by FOSTER for House of Representatives press corps. He said the “10% of OPEX for Host Community Development Trusts as against 2.5% prescribed in the PIB – This is a middle ground position taken after vigorous and exhaustive debate on the concerns of companies, government and the peculiar nature of the development challenges facing current oil-producing areas and places newly discovered for production”.

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