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Senate Passes PIB Bill, Okays 3% For Host Community

The Senate on Thursday during the plenary session passed the conference report of the National Assembly on the Petroleum Industry Bill (PIB).

The report has passed, allocating contributions to the host communities development trust fund at  3% of the operating expenditure of oil companies in the region, The Nation reports.

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Although the Senate approved three percent for the host communities despite protests from the South-South lawmakers, who advocated 5 percent.

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