Why we oppose Petroleum Industry Bill – Northern Senators

Abuja – The Chairman, Senate Committee on Housing, Sen. Bukar Abba-Ibrahim (ANPP-Yobe) said on Monday in Abuja that the North was opposed to the Petroleum Industry Bill because of its lopsidedness.

Abba-Ibrahim, who stated this at an interactive session with journalists, said that the clause in the PIB, which was asking for additional 10 per cent revenue for oil producing communities was unacceptable.

“Derivation is only one out of seven sources of revenue for the oil producing states. They have the Federal Government’s take home, the NDDC with over N500 billion being projects only in oil producing communities. Read more