The southern Governors’ Forum had demanded allocation of five per cent derivation as initially proposed in the PIB by the House.
The percentage of total operating expenses (OPEX) that oil firms are supposed to contribute to a trust fund established for host communities is in dispute.
Governor Nyesom Wike says President Muhammadu Buhari’s nomination as INEC national commissioner is part of APC’s grand plans to rig the 2023 elections.
Mr Wike in March 2020 shut down all markets in the state to reduce the spread of COVID-19. He later reopened all the markets except the Oil Mill and the Oginigba Slaughter markets.
The National Assembly passed the PIB, 12 years after the Bill was first introduced in the parliament. The Bill allocates three per cent equity share from oil proceeds to host communities.
The governor further urged the federal government to ensure all terrorists on its watchlist regardless of their ethnicity or religion are arrested and made to face the wrath of the law.
The National Assembly on Thursday passed the much awaited Petroleum Industry Bill amidst protestations from lawmakers representing the oil rich Niger Delta.
NNPC says Engineering Procurement and Construction (EPC) contractor for the Port Harcourt Refining Company is already on site.
Presidency says the Niger Delta Avengers’ threat to bomb Nigeria’s oil installations unless President Muhammadu Buhari’s regime meets their demands is unnecessary.
STPAON has issued a 48-hour ultimatum to the Port Harcourt port to reverse the recent increase (from N8 million to N89 million) in tariff on cargoes.
