Host Communities demand 10% equity in the PIB

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    The 2.5% equity share from the oil sector contain in the Petroleum Industry Bill, PIB, currently before the National Assembly, NASS, is still generating controversy in the host communities. Niger Delta group insist 10% equity stressing that anything short of that will be counterproductive to the host in order to entrench peace and stability in the region.

    Despite disagreement in NASS recently which led to a free-for-all the host communities have come together in unison on the issue of equity share accrued to the region from the oil companies operating in the communities.

    The President of the group Benjamin Style noted that the 2.5% proposed in the PIB is a mockery and it undermined the people.

     “Let there be 10% for host communities. The 10% equity will guarantee operating companies safety on their assets. Therefore, the demand for 10% is sacrosanct and all stakeholders in the Niger Delta communities stand on it”, he said.

    The host communities also seek an end to gas flaring and call for the establishment of a Trust Fund to achieve desired goals and development in the region.

    They apologize to the leadership of NASS following the free-for-all that ensued among them during public hearing on PIB in the floor of the House. They called for a thorough investigation into the matter.

     “With a deep sense of responsibility and patriotism, I apologize to the President of the Federal Republic of Nigeria, President Mohammadu Buhari, the Minister of State for Petroleum, the Managing Director of NNPC, the Presidency and both Houses of the National Assembly”, Style  stated.

    The PIB has remained controversial for almost 20 years with major issues revolving around the host communities in the Niger Delta that believed they most get fair share of natural resources located at their domain. They are of the view that if a legislation is in place, it will address numerous issues which bother on operational activities in the region.

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