-
Nigeria: Oil Producing Communities Want Derivation Fund Raised to 50%
This Day, 24 July 2018
Oil producing communities in the Niger Delta region of the country have indicated their preference to have the new bill - the Petroleum Host and Impacted Communities Bill (PHICB) -… Read more »
Nigeria's Oil-Producing Communities Demand Bigger Slice of Pie
Oil producing communities have stated their preference to have the new bill - the Petroleum Host and Impacted Communities Bill, which forms part of the umbrella Petroleum Industry Bill - contain a 50% derivation payout to them as opposed the 13% that exists at the moment. The derivation fund is paid to communities by the government for oil extracted in their regions.
InFocus
-
This ensures that Lagos State gets a slice of the government's derivation fund, awarded to all oil-producing states. Read more »
-
The Petroleum Industry Governance Bill, which is the first part of the Petroleum Industry Bill to be passed by the National Assembly, is not being met with much favour by ... Read more »
-
The Niger Delta militants have said that they would resume attacks that will further deepen the nation's woes if the government continued to explore oil from their region without ... Read more »
