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Reps PIB hearing scatters as Host Communities insist on 10% equity

The new PIB wants oil companies to pay host communities 2.5 percent of its profit.

• January 28, 2021
House of Reps
House of Representatives, [PHOTO CREDIT: Official Twitter handle of Reps NGR]

There was an uproar at the venue of the public hearing on the Petroleum Industry Bill, PIB, on Thursday afternoon as the Senate continued the public hearing on the bill.

The commotion was caused by the insistence of the representatives of the oil and gas host communities on 10 percent Equity Share Holding from oil companies.

The new PIB wants oil companies to pay host communities 2.5 percent of its profit. Host communities have since kicked against the provision of the bill, Peoples Gazette learnt.

The Gazette reported earlier that House Speaker Femi Gbajabiamila on Wednesday said the National Assembly will pass the new PIB into law come April 2021 despite complaints from Nigerians.

The Vanguard reports that fight broke out of Room 028 of the House of Representatives in the National Assembly on Thursday afternoon when the moderating Adhoc Chairman of PIB, Mohammed Monguno called host communities to make their presentation.

It is unclear to the Gazette what exactly led to the fight and which of the host community that started the fight, but newspapers report that other participants and lawmakers ran out of the venue for safety.

The Gazette is yet to confirm if the hearing continued after the trouble.

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