Reps Accept 3% Equity For Host Communities, Pass PIB
THEHouse of Representatives, yesterday, passed the harmonised contentious Petroleum Industry Bill ( PIB).
The decision followed the adoption of the report of the Mr. Mohammed Mongunoled ad hoc committee on PIB at the plenary presided by Speaker Femi Gbajabiamila.
The House had at its proceedings last Thursday stepped down consideration of the report of the conference committee after lawmakers from the oil rich Niger Delta region spearheaded by Chinyere Igwe and Boma Goodhead vehemently protested against the retention of Senate’s three per cent equity shares as against the five percent proposed by the House for the host communities in the PIB.
However, the PIB harmonised copy was represented for adoption yesterday based on the realisation by the leadership of the House that the conference committee report was irreversible.
The House spokesperson, Mr. Benjamin Kalu, who briefed reporters after the passage of the bill, canvassed the understanding of stakeholders in the oil rich Niger Delta region on the issue.
Kalu said: “Nigerians should know that there is no perfect legislation anywhere in the world. A thorny issue was the issue of three, five per cent. The conference committee was set up.
“They brought a report that did not go down well with the
House. They were mandated to go back and interact with their colleagues in the Senate so that we can have a better report. They went and they came back reporting that the number of votes both from the Senate and members of the House assigned to the conference committee was for three per cent.
“The rule in democracy is majority carries the vote. When the report came back and we saw it signed by the majority, it means that is what Nigerians want for now. There is no other option open in our books outside that conference to revisit that matter.
“So, instead of delaying Nigerians, instead of delaying the International Oil Companies’ ( IOCS) progress towards meeting the requirement of energy transition, we have to pass it today in line with what the Senate also passed. We believe that this is going to enhance our relationship with the IOCS than ever before.”