A Bill for Act, to provide Framework relating to Petroleum Producing Host Community’s participation, cost and benefit sharing among Government, Petroleum Exploration Companies and Petroleum Host Communities, 2017 has passed second reading in Senate.
The bill, which passed second reading following a unanimous adoption by the lawmakers through a voice vote at plenary on Thursday, was sponsored by Sen. Kabiru Marafa and members of the Joint Committee on Petroleum Resources.
According to him, when enacted into law the bill will create the much desired harmony and partnership among various stakeholders in the petroleum operation process.
The President of the Senate, Dr Bukola Saraki, referred the bill to the Joint Committee on Upstream, Downstream and Gas for further legislative action after putting it to a voice.
The joint committee was mandated to report back in four weeks. Meanwhile, the Senate has proceeded on its annual vacation and adjourned till the 19th of Sept, 2017.
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