By Oludare Mayowa
The passage of the Petroleum Industry Bill (PIB) may have run into a fresh ditch after the Senate passed the much-await oil and gas sector reform legislation with the divergence of position between the upper chamber and the lower chamber.
The House of Representatives had earlier passed the bill on Thursday with Section 240, subsection 2 of the bill that prescribes 2.5 percent equity for the host communities amended by the reps to provide for 5 percent.
However, while passing its own version, the percentage for the host community became contentious at plenary as the Senate reduced the percentage from five to three percent after a heated argument.
READ ALSO: Nigeria’s House of Reps passes PIB, awaits Senate concurrence
Senate Leader, Senator Yahaya Abdullahi, thereafter moved a motion for the bill to be read the third time and was seconded by Senate Minority Leader, Senator Enyinnaya Abaribe after a clause by clause approval by the upper legislative chamber.
The disagreement on the percentage for the host community could set the successful passage of the bill back for another long period as both chambers of the parliament would have to reach a consensus on a figure before the bill can be made ready for presidential asscent.
The Bill requires the concurrent of the Senate and House of Reps on all provisions before it could sign into law by the president for it to become legal.
