The new Petroleum Industry Bill states that oil-producing communities should be allocated three per cent of the profits made from oil proceeds.
The Senator representing Bayelsa West, Senator Seriake Dickson addressed the media in the Senate on two contentious issues bothering on the passage of the 3% equity shareholding for host communities, which he said they disagreed with, and the contentious clause 52(3) in the 2021 Electoral Act Amendment bill that was recently passed by the National…
To avoid situations where oil assets are left idle without necessary contributions to the federation account, stakeholders have charged the Federal Government to enforce the drill or drop clause in the Petroleum Industry Bill (PIB).
The Petroleum Industry Bill (PIB) again faced fresh criticism as the Nigerian Association of Road Transport Owners (NARTO), insisted that some sections of the proposed legislation are below par.
To help douse the swift and conflicting reactions, utter confusion and frustration raging in the minds of the Niger Deltans and other stakeholders, occasioned by the inexplicable and unexpected provisions
Although the long-awaited Petroleum Industry Bill (PIB) has been passed, stakeholders in the industry have accused the National Assembly of deliberately eroding the Ministry of Industry, Trade and Investment’s powers of issuing permit for crude oil,....
The restlessness that has greeted the passage of the much-talked about Petroleum Industry Bill (PIB) by the National Assembly (NASS), the other day, has clearly counteracted the desired goodwill that the proposed law should ordinarily command.
Gov. Udom Emmanuel of Akwa Ibom says the five per cent on oil derivation demanded by Governors in the south is not too much, “considering the devastating effects on members of our communities”.
The House of Representatives, yesterday, passed the harmonised contentious Petroleum Industry Bill (PIB).
Senators from the South-South geopolitical zone sustained their protest yesterday, as the Senate passed the harmonised Petroleum Industry Bill (PIB).
The House of Representatives has suspended consideration of the harmonised contentious Petroleum Industry Bill (PIB).
.The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have advocated for a clause in the Petroleum and Industry Bill....