- Chief Edwin Clark has faulted the the Petroleum Industry Bill (PIB) recently passed by the National Assembly
- In an open letter, Clark told NASS leaders that bill passed does not reflect the long clamour by the people of region for equity, fairness and justice
- The elder statesman condemned the provision and allocation of 30% of profits describing it as satanic, unjust, embarrassing
Abuja - The leader of the Southern and Middle Belt Leaders Forum (SMBLF), Chief Edwin Clark, has condemned the the Petroleum Industry Bill (PIB) recently passed by the National Assembly after about 13 years of legislative fireworks.
According to the leader of the Pan-Niger Delta Forum (PANDEF), the bill has dashed the hope of the people of the Niger Delta.
Clark who was represented by PANDEF’s national publicity secretary, Ken Robinson at a press conference in Abuja also faulted the provision and allocation of 30% of profits for further frontier oil exploration in the north.
While stating that the provision was fraudulently added, Clark described it as satanic, unjust, and embarrassing, The Nation added.
The elder statesman insisted that the bill passed does not reflect the long clamour by the people of region for equity, fairness and justice.
He demanded that the bill be reversed or else the people will deny International Oil Companies (IOCs) access into the region.
Petroleum bill to help crude oil community
Earlier, the PIB was signed by the House of Representatives and the Senate chamber in a bid to overhaul the oil and gas sector.
The passage of the bill means the government is close to deregulating the Petroleum industry, with only President Muhammadu Buhari's signature left.
The Chairman of the House Adhoc Committee on the PIB, Mohammed Tahir Mongunu, who moved the passage motion, stated that recommendations have been considered.
What you need to know about the Petroleum Industry Bill
In a related development, Mongunu said the PIB provides Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, and support the development of host communities.
The passage of the bill is expected to attract foreign investors and reduce government control on the oil and gas industry, as it will cut hydrocarbon tax for converted leases from 42.5% to 30%.