July 15, 2021

The Senate on Thursday adopted a three percent allocation to host communities in the Petroleum Industry Bill, despite protests by southern lawmakers at the National Assembly.

The southern lawmakers had demanded for five percent for host communities.

The number in dispute is the percentage of their total operating expenses (OPEX) oil companies are expected to contribute to a trust fund created for host communities.

Meanwhile members of the House of Representatives from the South-South have opposed the  allocation.

The lawmakers were heard chanting “five per cent” as against the three pre cent at the floor of the House on Thursday.

The chants continued even as the Speaker, Femi Gbajabiamila, walked in to commence plenary.