PIB: FG opts for townhall, urges host communities to use 3% equity judiciously

…Introduces new yellow card for travellers

The Federal Government has revealed that it will engage oil producing communities in the Niger Delta on issues regarding the 3% of operational costs allocated to them in the just-passed Petroleum Industry Bill, (PIB).

The Minister of State, Petroleum Resources, Timipre Sylva, disclosed this in Abuja when a group of Ijaw elders, leaders and critical stakeholders visited him to congratulate him on the passage of the PIB after 20 years.

Sylva, who tasked host communities on effective management of the funds, lamented the situation where communities in the Bonny Island cannot access funds paid to them by the Nigeria Liquefied Natural Gas Company, (NLNG), following court cases instituted by some individuals.

He also said he has extracted the commitment of multi-national oil firms to relocate their operational headquarters to the Niger Delta; he urged the elders to continue to sensitize communities on the need to secure public assets in their areas.

The minister said: “We are planning, alongside the Minister of Information, to hold town hall meetings in the host communities after the presidential assent to the PIB.

“We need to have more stakeholders engagement on the 3 percent allocated to the communities. People need to know that it is from production costs and not from profit. The production cost is always higher than the profits.

Earlier, the 33-member delegation, led by Timi Kay Ogoriba, commended the minister for the introduction of unprecedented massive reforms in the petroleum industry especially the radical expansion of the gas sector.

On the PIB, which had lingered for about 20 years, the delegation lauded the minister for handling the herculean task of working with the 9th National Assembly towards its eventual passage.

The delegation noted that by this great feat, Chief Timipri Sylva’s footprints in the sands of time would remain indelible.

Related news

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.