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•Communities, IOCs oppose provisions of proposed law
Deji Elumoye and Udora Orizu in Abuja
President of the Senate, Dr. Ahmad Lawan, yesterday warned against further delay in the passage of the Petroleum Industry Bill (PIB) as it will result in more colossal losses to the Nigerian economy.
Lawan, in his remarks at a two-day public hearing on PIB organised by the Senate Joint Committee on Petroleum Sector (Downstream), Petroleum Resources (Upstream) and Gas, committed the National Assembly to pass the bill by April so that by May it would have become law after President Muhammadu Buhari’s assent.
However, at the hearing, critical stakeholders in the nation’s oil and gas sector, including oil producers and host communities, kicked against certain provisions of the bill, which they called on the National Assembly to revisit before passage. ....

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