Tag: PIB
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Why Nigeria urgently needs PIB – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has urged the National Assembly to ensure the passage of a competitive Petroleum Industry Bill (PIB) that would make Nigeria an investment destination of choice. Mr Muda Yusuf, Director General, LCCI, made the call in a statement issued on Sunday in Lagos. Yusuf said the LCCI was…
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We’ll complete legislative actions on PIB, Electoral Act – Senate President
Senate President Ahmad Lawan says the National Assembly will ensure the passage of the Petroleum Industry Bill (PIB), amendment of the Electoral Act as well as Constitution review between January and December 2021. Lawan stated this when he fielded questions from State House correspondents shortly after the signing of the 2021 Appropriation Bill into law…
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House of Reps holds inaugural public hearing on PIB
The House of Representatives on Wednesday held the inaugural public hearing on the oldest piece of legislation in Nigeria, the Petroleum Industry Bill (PIB). TheNewsGuru.com (TNG) reports the House had on Tuesday passed the bill for second reading and referred it to the committee for public hearing. In his remarks at the hearing, Tahir Monguno,…
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PIB passes 2nd reading in the House of Reps
A Bill for an Act to provide for legal, governance, regulatory and fiscal framework for the Nigeria Petroleum Industry, development of host communities and for related matter has passed Second Reading in the House of Representatives. The bill which is also known as Petroleum Industry Bill (PIB) passed second reading after hours of debate during…
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13% derivation: Okowa not against communities’ agitation – Spokesman
Mr Olisa Ifeajika, Chief Press Secretary to Governor Ifeanyi Okowa of Delta, says the Governor is not in any way against the clamour by oil-bearing communities to be given funds directly from the 13 per cent Derivation Fund. He said that contrary to the reasoning and issues being canvassed by some groups and the slant…
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PIB: Niger delta host communities demand ownership, control of trust funds
…demand increase in company contribution to 5% …say proposed law fails to address fate of environmentally ravaged, gas flare-impacted communities Stakeholders in host communities of the Niger Delta Region have demanded ownership and control of the host communities trust funds proposed in the Petroleum Industry Bill (PIB) for the development of oil-bearing areas. The stakeholders…
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We are taking our time to do a thorough job on PIB – Senate President
We are taking our time to do a thorough job on the Petroleum Industry Bill (PIB) because it is a very delicate and sensitive piece of legislation, President of the Senate, Senator Ahmad Lawan has said. Lawan made the comments on Friday while speaking on the expectation of Nigerians regarding the passage of some critical…
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We’re determined to pass PIB in six months – Gbajabiamila
…says House ready to carry stakeholders along The Speaker of the House of Representatives Rep. Femi Gbajabiamila, has assured that the Green Chamber is determined to pass the Petroleum Industry Bill (PIB) within the next six months. Speaking when he played host to a delegation of the Oil Producers Trade Section (OPTS) under the Lagos…
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‘Zamfara gold sales may hamper passage of PIB’
Financial expert, Mr Pedro Omontuemhen has argued that the sales of gold by the Zamfara State Government to the Central Bank of Nigeria (CBN) may hamper the passage of the Petroleum Industry Bill (PIB). TheNewsGuru.com (TNG) reports Omontuemhen expressed this fear on Monday at the Pre-Conference Workshop held ahead of the 38th Annual International Conference…
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PIB: Omo-Agege makes case for host communities
The Deputy President of the Senate, Senator Ovie Omo-Agege has argued that the Petroleum Industry Bill (PIB) should be able to guarantee host communities 5% of the operational expenses of oil companies operating in the areas. TheNewsGuru.com (TNG) reports Senator Omo-Agege made this argument on Thursday while also decrying the diversion of the 13 percent…