- Insists On 5% To Oil Host Communities
The House of Representatives on Thursday has stepped down the adoption of the conference report on the age-long Petroleum Industry Bill (PIB), for the third reading and final passage.
This followed a disagreement with the Senate on the conference report by both chambers.
The New DiplomatĀ earlier reported that the Senate, on Thursday passed the conference report of the National Assembly on the PIB.
The Conference Committee of the Senate and the House of Representatives on the PIB, in its report adopted 3 per cent for oil producing communities as trust fund, which was passed by the red chamber last week.
It would be recalled the two chambers of the National Assembly, had passed conflicting per cent shares for the oil producing communities. While the Senate passed 3 per cent the House of Representatives passed 5 per cent.
Following the differences, the reports by both chambers were passed on to the conference committee for harmonization before President Muhammadu Buhariās assent.
However, the adoption of the Conference committee led to a rowdy session as members of the House of Representatives protested the reduction of host community fund from the initial 5% passed by the House, to 3% passed by the Senate.
Midway into the rowdy session, Speaker Femi Gbajabiamila and some other principal officers went into a closed-door meeting which lasted for about three hours.
After the meeting, the speaker called for the consideration of report, asking the chairman of the ad-hoc committee on PIB, Hon. Mohammed Tahir Monguno to present the report for consideration.
Monguno in his presentation prayed the house to step down the bill.
Following arguments by the lawmakers, Gbajabiamila ruled against the approval of the bill, adding that the PIB will only be passed when there is a proper harmonization with the Senate.
āThe Report of the Conference Committee on a Bill for an Act to Provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, the Development of Host Communities and for Related Matters is hereby stepped down by leave if the House,ā Gbajabiamila ruled.
As it stands, the much-awaited PIB may not become law soon as the National Assembly has proceeded on its annual recess until September.
