22 June 2017, Sweetcrude, Abuja – The passage of the Petroleum Industry Bill, PIB, will be the greatest thing to happen to the Nigerian oil and gas sector, according to Hon. Sergius Ogun, a member of the House of Representatives.
Rep says PIB will bring efficiency to oil sector
The House member disclosed this to journalists, Thursday in Abuja, saying one of the advantages of the bill is that it would create more agencies in the oil and gas sector to make it more effective and efficient, if passed into law.
“The bill will create a trust fund that some percentage of monies will be paid to be used by these communities to develop the place.
“This is what is obtainable in Alaska in the United State of America. The individuals in host communities are captured and paid with certain percentage of the proceeds from the oil.
“It will give the communities a sense of belonging and end militancy and agitations in Niger Delta,’’ he said.