The All Progressives Congress, APC, has condemned the Peoples Democratic Party, PDP, over its criticism of the Petroleum Industry Act. This is coming after PDP said the law would not guarantee stability in the oil sector and the Niger Delta region. In a statement on Tuesday, John Akpanudoedehe, national secretary of the APC caretaker committee, said “The … Read more
President Muhammadu Buhari Monday signed the controversial Petroleum Industry Bill to law. The Petroleum Industry Bill 2021 was earlier passed by the Nigerian Senate in July, with a 3% allocation approved for host communities. Lawmakers from the Southern region had demanded a minimum of 5% for the host communities. Read Also: PIB: Anything Less Than … Read more
Though the individuals has not been confirmed, it was gathered that they are members of the oil host communities who had come to make presentations on the bill. The venue of the public hearing on the Petroleum Industry Bill,Room 028, PIB has been thrown into pandemonium following a fight by some attendants. The fight broke … Read more
The Nigerian Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for l host communities. The upper chamber passed the PIB, 2021 after the clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB. Although the Senate approved three per cent for … Read more
The Nigerian Senate has confirmed the appointment of board members for the Nigerian Upstream Regulatory Commission. The confirmation of NURC board members was preceded by a consideration of a report by the Senate Committee on Petroleum Resources. With the confirmation of the board, the Nigerian Upstream Regulatory Commission has automatically replaced the Department of Petroleum … Read more
The Nigerian Senate has queried the Ministry of Petroleum Resources over the alleged payment of a whopping N98.4 million for the printing of campaign leaflets for a programme to raise awareness about the Petroleum Industrial Bill, without due process. The Senate described the act as mismanagement of public funds by the Ministry of Petroleum Resources, … Read more
Two Niger Delta communities have led the way towards the full implementation of the Petroleum Industry Act (PIA) for all oil bearing communities. This follows a peaceful meeting between Opuama and Tsekelewu communities of Egbema kingdom, Warri North local government area of Delta State, which held in Sapele on Saturday. The meeting was convened by … Read more
PDP Demands immediate Amendment of Petroleum Industry Bill The Peoples Democratic Party (PDP) has demanded the immediate amendment of the newly signed Petroleum Industry Act Bill, approved by President Muhammadu Buhari. Buhari signed the controversial Petroleum Industry Bill 2021 into law on Monday, despite the huge outcry and condemnation it received, especially those in Southern … Read more
Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), has explained that the allocation of three percent oil companies operating expense to host communities is higher than 30 percent of profit oil and gas for frontier exploration in terms of value. Kyari gave this explanation during NTA interview programme on Tuesday, saying … Read more
Governor Nyesom Wike of Rivers State has said there is need for government to monitor how communities spend the 3% equity shares contained in the recently signed petroleum industry act in order to avoid cisis. Speaking on Channels TV Sunrise daily on Tuesday, Governor Wike said if communities are left unchecked on how the 3% … Read more
Governor Nyesom Ezenwo Wike of Rivers State has cautioned the National Assembly that anything less than a 10 percent fund allocation in the Petroleum Industry Bill that will not be accepted by host communities. Daily Report Nigeria gathered that Governor Wike also emphasized on the necessity of the bill to clearly state specific developmental projects … Read more