Tag Archives: PIB

Host communities will receive half a billion dollars annually as funding from the three per cent approved for Host Communities Trust Fund in the Petroleum Industry Bill (PIB), the Senate has said.

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The Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for the host communities

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The President of the Senate, Dr. Bukola Saraki, has said the upper chamber of the National Assembly is working to ensure the completion of the passage of the Petroleum Industry Bill in the fourth quarter of this year. Saraki stated this in Lagos on Monday at the Nigeria Oil and Gas Industry Research and Development Fair and Conference 2017 organised …

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Nigeria has lost about $235bn worth of investments on the back of the failure to reform the oil and gas industry, even as the Federal Government struggles to pay up over $9bn cash call arrears to oil firms. Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria and National Union of Petroleum and …

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