It is not yet Uhuru for the Petroleum Industry Bill (PIB) as the APC transition committee has advised President Muhammadu Buhari to jettison the version proposed by the Goodluck Jonathan administration. In its place, the committee said “Dr. Rilwanu Lukman’s version” should be passed into law by the national assembly. The omnibus law for the petroleum industry is designed to reform the oil and gas sector, which gives Nigeria over 90% of its forex earnings as well as over 60% of national spending. The delay in passing the bill is believed to have created uncertainty in Nigeria’s oil and gas industry, leading to the loss of over $80 billion in fresh investments, with investors unsure of the regulatory, political and economic conditions under which they will operate. Most of these investments have been diverted to Angola, which has enjoyed political stability in the last decade.

“Lukman’s version”

The house of representatives had passed the latest version shortly before the last administration wound down, although the senate could not vote on it and this effectively meant the bill could not become law in the life of the Jonathan government. However, the proposal by the Ahmed Joda-led transition committee that “Lukman’s version” should be passed may generate political and administrative hitches. Lukman, former minister of petroleum resources under President Umaru Musa Yar’Adua from December 2008 to March 2010, did not originate the bill. Lukman, who died in 2014, was special adviser to President Olusegun Obasanjo when the first draft of the bill was prepared but was not sent to the national assembly until Obasanjo left office in 2007. Several versions of the bill were being sent to the national assembly under Lukman’s watch as various interests struggled to tamper with it to maximise their benefits.

“Diezani’s version”

The exit of Lukman in 2010 led to a review of the various versions by Diezani Alison-Madueke, Lukman’s successor in the ministry. The reasons for the proposal to adopt “Lukman’s version” are not very clear, as there were no significant changes in the contentious areas, such as the fiscal regime which the international oil companies (IOCs) considered to be unfavourable.

Whereas the “Lukman’s version” provided 10% equity to oil “host communities”, this was reduced to 7.5% in “Diezani’s version” passed by the house of representatives. The definition of “host” was also expanded to cover all communities that pipelines pass through, not just where exploration is being made. The discretionary powers to award oil licences which were granted to the minister of petroleum resources under “Lukman’s version” were retained in “Diezani’s version”, but the house of representatives removed the provision. The Joda recommendations are currently being reviewed by a committee headed by Vice-President Yemi Osinbajo.

http://www.thecable.ng/exclusive-buhari-asked-dump-jonathans-pib

F

So the oyel Goddess reduced equity from 10% to 7.5% in host communities yet my brothers will not see this, the same way they have been blind to see that the likes of Asari,Tompolo and other militants are actually fighting for their pockets and not for the ND.

Indeed tribal and religious sentiments can make people very foolish and insensible.

Freemanan:

guy calm down nah

robinicule:
guy calm down nah

Okay my boss

Freemanan:

Okay my boss

i just dey jam u for everywhere. its strange checked ur profile..teamcancer..teamswifty..d only diff is dat am taller dan u 6'4 and aint no military lol

Legislooters deliberating on PIB since 18BC.

That's the bad thing about new leaders...they dump the previous leaders works...both good and bad...just as Rochas dumped ohakims clean and green

robinicule:
i just dey jam u for everywhere. its strange checked ur profile..teamcancer..teamswifty..d only diff is dat am taller dan u 6'4 and aunt no military lol

You are a Leader....

.

[s]

koboko69:
So the oyel Goddess reduced equity from 10% to 7.5% in host communities yet my brothers will not see this, the same way they have been blind to see that the likes of Asari,Tompolo and other militants are actually fighting for their pockets and not for the ND.

Indeed tribal and religious sentiments can make people very foolish and insensible.

[/s]

And Tinubu is fighting for the Yorubas not his pocket, you my friend is a compound fool.
If not for the likes of Asari, Tompolo etc the death of Saro Wiwa would have been in vain. These people fought for the 13% derivation we currently enjoy as oil producing states.

Mogidi:
[s][/s]

And Tinubu is fighting for the Yorubas not his pocket, you my friend is a compound fool.
If not for the likes of Asari, Tompolo etc the death of Saro Wiwa would have been in vain. These people fought for the 13% derivation we currently enjoy as oil producing states.

Every one knows u have a high reputation of being a serial dunce and an unrepentant troll! Do u see Tinubu in your dreams??....is it not amazing that one who has not held a political office since 2007 still call the shots more that all the politicians in your entire village? So in ur daft imagination, my comment potrays me as being Yoruba?
Be wise!

koboko69:


Every one knows u have a high reputation of being a serial dunce! Do u see Tinubu in your dreams??....is it not amazing that one who has not held a political office since 2007 still call the shots more that all the politicians in your entire village? So in ur daft imagination, my comment potrays me as being Yoruba?
Be wise!

I had to reply your stupidity, you implied Tompolo and Asari were fighting for their pockets, I similarly asked you if Tinubu was fighting for his pocket.
You my friend is a compound ediot, the Niger Delta needs Tompolo and Asari, without them the region would be undermined, this is obvious even to a toddler.

Mogidi:


I had to reply to your stupidity, you implied Tompolo and Asari were fighting for their pockets, I similarly asked you if Tinubu was fighting for his pockets.
You my friend is a compound ediot, the Niger Delta needs Tompolo and Asari, without them the region would be undermined, this is obvious even to a toddler.

SMH.....

he'll soon deny it

I need an oil block

Help me Lord.

Buhari is a fool, there's lot of work to do and you are looking for wetin no lost, The clueless Dullard

lol, I am watching

If this bill is discarded, it will never be passed in this administration because, EU and America do not like it.

I have a position on this and I will make it open in due time. One of the reasons GEJ had to go...

agabaI23:
lol, I am watching

If this bill is discarded, it will never be passed in this administration because, EU and America do not like it.

I have a position on this and I will make it open in due time. One of the reasons GEJ had to go...

We're watching. Keenly.

BIP IS NOT JONATHAN'S ITS FOR THE NATION. THOSE ADVISING BUHARI TO DUMP IT ARE CHARLATANS AND BIGOTS WITH HIDDEN AGENDA.AWAITING TO SEE WHAT THE DILLARD WILL DO

Why would he dump it?

Recipe for failure.
Taking advice from people with ulterior motives . We dey watch

[size=20] AM NEW IN NAIRALAND. PLEASE WELCOME ME WITH YOUR LIKES. SHOW ME SOME LOVE WITH YOUR LIKES. [/size]

How does that affect the price of fruit in my area

And use the next four years to draft another bill? Is there nothing like amendment in his dictionary?
Anyway a dullard will always show his traits

All I have to say is triple D. The guy is confuse I swear.

[size=20] THIS SPACE IS FOR MY UNBORN CHILD[/size]

Confus govnt, full of confus ppl...

i dont think its neccessary