Tag: PIB

PIB: ‘That is funny’, Senate President dismisses allegation of $10m bribe

Senate President, Ahmad Lawan, has described as false the 10 million dollars bribe allegedly offered to members of the two chambers of the National Assembly to pass three per cent host community development fund. Lawan stated this while briefing State House correspondents after a closed-door meeting with President Muhammadu Buhari[Read More…]

‘The Petroleum Industry Bill is unfair to Cross River State’ – Governor Ben Ayade

The Cross River State Governor, Sen Ben Ayade has expressed displeasure with the recently signed Petroleum Industry Bill (PIB), saying the PIB that is now PIA, is unfair to Cross Riverians as it continues to neglect the plight of the people of the state. Ayade who made this known while[Read More…]

Niger Delta Congress rejects PIB, says its ‘obnoxious’

The Niger Delta Congress has rejected the newly signed Petroleum Industry Bill, saying it disposses the people of the Niger Delta regions of their lands and the rights to their resources. President Buhari assented to the bill on Monday, amid several objections from interesy groups in the region. On July[Read More…]

PIB: ‘3% of something is better than 100% of what you don’t know’ – Timipre Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva, said that the philosophy behind the Petroleum Industry Bill (PIB) signed into law by President Buhari was to attract investors. The minister disclosed this while responding to questions on the three percent allocation to host communities in the PIB in[Read More…]

President Buhari has signed the Petroleum Industry Bill into law

President Muhammadu Buhari has signed the Petroleum Industry Bill (PIB) 2021 into law. According to a statement issued by Femi Adesina, the president assented to the bill on Monday in his determination to fulfill his constitutional duty. ”The ceremonial part of the new legislation will be done on Wednesday, after[Read More…]

Reps pass PIB, adopt 3% for host communities

Following the report of the conference Committee on the Petroleum Industry Bill (Bill), the House of Representatives on Friday, in Abuja passed the bill, allowing three per cent to host communities. The three per cent is however against 10 per cent demanded by the host communities and also the initial five[Read More…]

PIB: Expert tasks FG on law to safeguard Nigerians against environmental hazards

The Society of Energy Administrators (SEA), Nigeria, has called on Federal Government to enact energy service criminal laws to capture health, safety and environment risk management in the Petroleum Industry Bill (PIB). The President of SEA, Dr Yekeen Adeboye, made the call when he led executives of the society on[Read More…]

Expert raises concern over recently passed PIB

Professor Wunmi Iledare, a professor of Petroleum Engineering says the Federal Ministry of Petroleum Resources needs to be rebounded to fit into the recommendations of the Petroleum Industry Bill (PIB) currently passed by the National Assembly. Iledare made this known while analysing different portions of the bill in an interview[Read More…]

PIB: Senate President unveils seven-member Committee

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[Read More…]

Ijaw national leader, Edwin Clark says passed PIB is satanic, embarrassing

Edwin Clark, an Ijaw national leader and former Federal Commissioner for Information and the leader of the Pan-Niger Delta Forum (PANDEF), has described the passed Petroleum Industry Bill (PIB) as “satanic, unjust and embarrassing”.  The PIB which has faced criticism in social discourse since it was mooted over 20 years[Read More…]