Governors of the South West geo- Political zone of the country are insisting on five per cent for Host Communities in the Petroleum Industry Bill.
The governors met with with Senators and members of the House of Representatives from the Zone, with a resolve that both the two chambers must approve five percent of the actual annual operating expenditure of the preceding financial year in the upstream petroleum operations affecting the host communities for funding of the Host Communities Trust Fund in the new Petroleum Industry Bill, PIB.
Chairman of the South West Governors and the Ondo State governor, Rotimi Akeredolu, SAN at the end of the meeting did not mention the issue of PIB while briefing Journalists, but a Business News Report source at the meeting said the governors and the lawmakers agreed to throw their weights behind the members of House of Representatives on 5 per cent for host communities.
The two chambers of the National Assembly last week Thursday passed the PIB, after about 13 years of legislative fireworks where the Senate approved 3% and House of Representatives to 5% of Operating Expenditure granted to the Host Communities and 30% provision for the Frontier Exploration Fund.
The original Bill brought to the Senate by the Executive was 2.5% for funding of the Host Communities Trust Fund, but the Committee moved it to 5%, but the Senate at the end of the day approved 3%. The bill was first sent to the National Assembly in 2008 by President Umaru Yar’Adua, now deceased, without translating into an Act.
The PIB, 2020 seeks to introduce far-reaching reforms in the Nigerian oil and gas industry.
According to the Business News Report, Akeredolu who was flanked by governors of Ekiti, Oyo, Lagos, Ogun and Osun while briefing newsmen in Abuja, said that the Zone will come up with a common position on the Constitution Review that is presently being carried out by the National Assembly.
Akeredolu said, “South west governors held a meeting with members of the House of Representatives and Senators from South West.
“At the meeting we discussed so many areas of interest, but most importantly we deliberated on constitutional amendments and we resolved that we will present a common position as regards to amendment to constitution. And in order to achieve this, we set up a committee, the committee made of up senators led by the caucus chairman and House of Representatives caucus chairman and attorneys of the south west states.
“The committee is to harmonise our position so that we can present it when necessary before the two house and at the end of the day have a constitutional amendment have our serious input. Thank you all.”
The meeting which took place at Imo Hall, Transcorp Hilton hotel, Abuja started at 8.10am,with the Governor of Ondo State, Rotimi Akeredolu, SAN presiding and it came to an end at 10.10pm
In her opening prayer, Senator Oluremi Tinubu, called on God to intervene in the affairs of Nigeria against the backdrop that the country is at a crucial time in the history of our nation.
The meeting had the newly passed Petroleum Industry Bill, PIB and the Electoral Act Amendment Bill as the agenda. Governors of Ondo, Ekiti, Oyo, Osun, Ogun and Lagos attended the meeting which was held behind closed door.
