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The Place of PEF(M)B in the Petroleum Industry Bill

The Place of PEF(M)B in the Petroleum Industry Bill
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PIB: Group, host communities clash over 2.5% trust fund

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Sunday Aborisade, Abuja
The Senate commenced consideration of the Petroleum Industry Bill on Monday with the Women in Energy Network rejecting the 2.5 per cent the host communities are demanding from the investors in the oil and gas sector as annual levies.
The host communities started their demand when they asked for 10 per cent net profit in PIB 2012.
They reduced it to five per cent of actual expenditure in 2018 before they further cut it to the 2.5 per cent of actual operating expenditure in the PIB 2020.
Fresh consideration of the bill resumed on Monday at the opening of a two-day public hearing jointly organised by the Senate Joint Committee on Petroleum Sector (Downstream); Petroleum Resources (Upstream); and Gas. ....

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Delay in PIB Passage Dangerous for Economy, Says Lawan

•Communities, IOCs oppose provisions of proposed law
Deji Elumoye and Udora Orizu in Abuja
President of the Senate, Dr. Ahmad Lawan, yesterday warned against further delay in the passage of the Petroleum Industry Bill (PIB) as it will result in more colossal losses to the Nigerian economy.
Lawan, in his remarks at a two-day public hearing on PIB organised by the Senate Joint Committee on Petroleum Sector (Downstream), Petroleum Resources (Upstream) and Gas, committed the National Assembly to pass the bill by April so that by May it would have become law after President Muhammadu Buhari’s assent.
However, at the hearing, critical stakeholders in the nation’s oil and gas sector, including oil producers and host communities, kicked against certain provisions of the bill, which they called on the National Assembly to revisit before passage. ....

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COVID-19 protocols: FG threatens to shut down NYSC camps

COVID-19 protocols: FG threatens to shut down NYSC camps
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The Federal Government has vowed to close any National Youth Service Corps (NYSC) Orientation Camp where the state government does not comply with all the COVID-19 protocols.
Minister of Youths and Sports, Sunday Dare, disclosed this at the Presidential Task Force briefing on Monday, NAN reports.
Dare disclosed that over 700 corps members from the current batch tested positive for coronavirus.
The cases are from over 22,000 participants tested.
The minister said it had become necessary that all safety protocols be adhered to in camps.
“Any orientation camp that is not obeying the protocol will simply be closed as the NYSC cannot afford to risk the lives and health of corps members,” he stressed.. ....

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