PIB: Senate President unveils seven-member Committee

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Senate, Ahmad Lawan, has announced the composition of a seven-member Conference Committee on the Petroleum industry bill (PIB) on Tuesday.

PIB, among other things, provides that three per cent of the operating expenditure of oil companies (OPEX), estimated at $500 million annually, to be directed to the development of host communities.

In the House of Representatives, the equity share was pegged at five per cent.

The committee is mandated to harmonise the discrepancies in the bill before sending it to the Presidency for assent.

The panel is chaired by Senator Yahaya Abdullahi, Senate Leader.

Aside, the Senate Leader from Kebbi North, the list included Senator representing Jigawa Southwest and Chairman 54 member Senate Joint Committee on Downstream Petroleum Sector, Petroleum Resources (Upstream) and Gas, Senator Sabo Mohammed Nakudu; Senator representing Akwa Ibom North-East, Albert Bassey Akpan; former governor of Gombe state and Senator representing Gombe Central, Danjuma Goje.

Others are Senators Stella Oduah, Opeyemi Bamidele and Gabriel Suswam, representing Anambra North, Ekiti Central and Benue North East, respectively.

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