SENATE President, Ahmed Lawan, has debunked reports suggesting that members of the National Assembly received $10 million to pass the three per cent allocation to host communities as stipulated in the Petroleum Industry Act (PIA).
He stated this today in a chat with State House correspondents after a meeting with President Muhammadu Buhari at the Presidential Villa in Abuja.
Senator Lawan expressed dismay at the news, describing it as falsehood propagated to mislead the public.
While highlighting the dangers that accrue to such slander, the Senate President added that he has had cause to sue some persons who perpetrated such act a few months back.
He urged Nigerians to speak the truth, adding that the Senate was working in the best interest of the people.
Upon his arrival from the United Kingdom, President Buhari signed the Petroleum Industry Bill 2021 into law.
The Act which provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, also stipulates how host communities will be developed.
As part of regulations for development, host communities are expected to get three per cent of the operating expenditure of oil companies, while 30 per cent of the revenue is set aside for frontier exploration, an agreement which some especially those from the South-south have vehemently frowned at.
According to those who are not in favour of the allocation for communities where crude is explored, the percentage is unacceptable.
The three per cent debate was not only argued on the pages of dailies, it was also a major issue in the parliament.
After several arguments on the floor of the National Assembly, the Senate passed the bill on July 15 and the House of Representatives followed suit on July 16.
Following this development, some reports have been making the rounds suggesting that lawmakers were bribed to turn a blind eye to the quest for an increment in the allocation assigned to cater for the needs of the host communities.eports suggesting that members of the National Assembly received $10 million to pass the three per cent allocation to host communities as stipulated in the Petroleum Industry Act (PIA).
He stated this today in a chat with State House correspondents after a meeting with President Muhammadu Buhari at the Presidential Villa in Abuja.
Senator Lawan expressed dismay at the news, describing it as falsehood propagated to mislead the public.
While highlighting the dangers that accrue to such slander, the Senate President added that he has had cause to sue some persons who perpetrated such act a few months back.
He urged Nigerians to speak the truth, adding that the Senate was working in the best interest of the people.
Upon his arrival from the United Kingdom, President Buhari signed the Petroleum Industry Bill 2021 into law.
The Act which provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, also stipulates how host communities will be developed.
As part of regulations for development, host communities are expected to get three per cent of the operating expenditure of oil companies, while 30 per cent of the revenue is set aside for frontier exploration, an agreement which some especially those from the South-south have vehemently frowned at.
According to those who are not in favour of the allocation for communities where crude is explored, the percentage is unacceptable.
The three per cent debate was not only argued on the pages of dailies, it was also a major issue in the parliament.
After several arguments on the floor of the National Assembly, the Senate passed the bill on July 15 and the House of Representatives followed suit on July 16.
Following this development, some reports have been making the rounds suggesting that lawmakers were bribed to turn a blind eye to the quest for an increment in the allocation assigned to cater for the needs of the host communities.
