The Southern Governors’Forum at its meeting in Lagos on Monday rejected the equity share holding percentage allocated to oil host communities.
The National Assembly on Thursday passed the much awaited Petroleum Industry Bill amidst protestations from lawmakers representing the oil rich Niger Delta.
The petroleum industry regulatory law had struggled to see the light of day in spite of its introduction to the National Assembly over 16 years ago.
“We can bring the prices of refined petroleum products down to below N100 per litre.”
“We feel already short-changed as a people in the Niger Delta.”
“We saw that people use wood as a bridge to get to where Shell Petroleum Development Company is exploring oil.”
The new PIB wants oil companies to pay host communities 2.5 percent of its profit.
The new PIB wants oil companies to pay host communities 2.5 percent of its profit.
Whether anybody wants to hear this or not, over 80 percent of the identified “forces within” are mainly domiciled in the two chambers of the National Assembly.
The Nigerian leader celebrates his 78 birthday on Thursday.
