On Thursday 15th July 2021, The Senate has passed the conference report of the National Assembly on the Petroleum Industry Bill (PIB).
Anaedoonline.ng gathered that the report was passed on Thursday (today) after both chambers passed the PIB into law last week.
The report stated that the National Assembly pegged contributions to the host communities development trust fund at three per cent of the operating expenditure of oil companies in the region.
Meanwhile, The House of Representatives has dissolved into an emergency executive session to resolve some contending issues on the Petroleum Industry Bill (PIB).
LATEST NEWS: Senate Approves Euro 490m, $8.325bn External Loans
It was gathered that some lawmakers had engaged in a shouting match just before the commencement of plenary to consider the Electoral Act amendment bill and the conference report on the PIB bill.
However, some lawmakers were angry that the conference report recommended 3 percent for the host communities.
While the House passed 5 percent, the Senate had recommended 3 percent for host communities.
LATEST: PDP Name New Senate Deputy Minority Whip
This led to the Speaker and other principal officers walking into the chamber midway into the shouting match.
PLEASE FOLLOW US ON TWITTER
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.