BREAKING: Senate Passes PIB, Okays 3% For Host Communities

Barely an hour after the Members of the House of Representatives passed the Petroleum Industry (PIB), the Nigerian Senate on Thursday also passed the bill, the oldest bill at the National Assembly.

The Senate approved three per cent for host communities after consideration.

The PUNCH reports that 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 the host communities despite protests from the South-South lawmakers, who advocated 5 per cent.

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The Senate had before then, held a closed session with the Minister of State for Petroleum, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari.

Senate President Ahmad Lawan congratulated the lawmakers and said the Ninth National Assembly has achieved one of its fundamental legislative agenda.

“The demons (of PIB) have been defeated in this Chamber. We have passed the bill,” he said.