August 18, 2021
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President of the Senate, Ahmad Lawan, has joined issues with those kicking against the assent given the Petroleum Industry Bill by President Muhammadu Buhari.

The PIB transformed into the Petroleum Industry Act on Monday when President Buhari signed it into law.

Certain eminent Nigerians from the oil-producing states have continued to kick against the presidential assent, citing the contentious clauses of three per cent for the host communities and 30 per cent of profit of the proposed Nigeria Petroleum Company Limited to be dedicated to oil prospecting in the Frontier Basins.

Senator Lawan however faulted the position of individuals from the host communities.

Lawan, in a statement issued last night by his media aide, Ola Awoniyi, maintained that the PIA would not only benefit people from the Niger Delta region, but also all Nigerians.

He appealed to eminent Nigerians from the oil-producing states to shelve their agitation as he advised them to focus their minds to judicious use of over $500 million that would accrue to the host communities.

He said: “This is one bill that will benefit Nigeria as a country and benefit its people. It will benefit Nigeria as a country in such away that, like the president just said, this is going to give certainty, create the legal framework that people, especially the investors, had feared that was absent or not adequate.

“And that certainty will make it possible to have foreign direct investment particularly coming into the oil industry.

“Secondly, we will have much more revenues coming into our country, into our coffers. So our States will have more revenues. Our local government will have more funds. And of course what they expect is that these revenues should translate into actionable projects that will make life better for Nigerians.”

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