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PIB: CSOs Fault 2.5% Proposed Fund for Host Communities

By Chineme Okafor
Civil Society Organisations (CSOs) working within the advocacy space of Nigeria’s extractive sectors have argued that the proposed 2.5 per cent off the operational expenditure of oil companies operating in the Niger Delta for host communities in the Petroleum Industry Bill (PIB) was too low.
The CSOs thus asked the National Assembly to consider raising the amount to 10 per cent of the operational expenditures of the oil companies. They explained that this could represent a middle ground in the ongoing debates for host communities’ trust fund in the PIB.
The PIB, a piece of legislation expected to rewrite the laws and reposition operations in Nigeria’s oil and gas industry has being in the works for many years, but the National Assembly has resumed legislation on it, with concerns on how to adequately accommodate communities hosting oil operations top on the agenda. ....

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PIB: Stakeholders want 10% derivation for host communities

Vanguard News
PIB: Stakeholders want 10% derivation for host communities
On
By Tordue Salem, Abuja
Stakeholders in the oil and gas industry, Thursday demanded a raise of the oil operating expenditure from 2.5 per cent to 10 per cent for host communities in the new petroleum industry bill (PIB).
The position of the stakeholders to the National Assembly was presented by the executive director/publisher of Order Paper, Mr Oke Epia at a one-day workshop tagged “Reforming the oil and gas sector in Nigeria-strategy meeting on post-hearing engagement on the PIB” organised by FOSTER for House of Representatives press corps.
He said the “10% of OPEX for Host Community Development Trusts as against 2.5% prescribed in the PIB – This is a middle ground position taken after vigorous and exhaustive debate on the concerns of companies, government and the peculiar nature of the development challenges facing current oil-producing areas and places newly discovered f ....

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PIB: Stakeholders want 10 percent derivation for host communities

PIB: Stakeholders want 10 percent derivation for host communities
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