Senate President, Dr. Abubakar Bukola Saraki, on Wednesday,
November 3rd, 2016, stated that the Senate would be introducing a Host
Community legislation to complement the Governance and Institutional Framework
Bill of the revised PIB that passed Second Reading at the Senate on Wednesday.
In a statement signed by Mr. Yusuph Olaniyonu, the Special
Adviser on Media & Publicity to the Senate President, Saraki stated that
with the institutional and governance framework aspect of the PIB at the
Committee Stage, it was necessary for the Senate to begin work on the passage
of the host community development legislation, which is aimed at addressing
issues relating to community participation, security, and the ecological debt
incurred by host communities from oil extraction.
“For many years now the PIB has been stalled at different
stages for one reason or the other,” Saraki stated, “At this point, the Senate
is ready and willing to do everything that it takes to get Nigeria’s economy
out of this recession — and the efficient and effective management of our oil
resources is a key component of this.
“Now that the legislation to provide a governance and
institutional framework for the petroleum industry has passed Second Reading,
it is time to re-introduce the host community development legislation to
address the legitimate agitations of the people of the Niger Delta,” he said.
By the calculation of the Senate President, work on the passage
of the two key bills will be nearing completion stage before the end of the
year.
The Senate President also stated that he has asked
legislators from the Upper Legislative Chamber to work together and
introduce the host community development legislation, within four weeks,
emphasising the fact that the predicaments of host communities that have faced
the adverse effects of oil exploration for decades need to be addressed.
The version of the PIB that is now at Committee Stage is
sponsored by Senator Omotayo D. Alasoadura and Twenty-eight Co-Sponsors. The
Bill with the long title of “An Act to Provide for the Governance and
Institutional Framework for the Petroleum Industry and for Other Related
Matters” is aimed at creating an efficient and effective governing institution
for the petroleum industry by defining clear and separate roles for all
involved entities and establishing a framework for the creation of commercially
oriented and profit- driven petroleum bodies that ensure value addition and
internationalization of the petroleum industry.
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