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Nigerian Firms to Lose Licences for Neglecting Oil Communities

Oil communities are outraged at how governors have managed the 13% derivation fund. They said that governors have disappointed the oil-bearing states with their distressing performance over the years. Now, the new proposed Petroleum Industry Bill is proposing that any oil and gas company that failed to incorporate the Host Communities Development Trust would have its license revoked. The bill further proposes that the objectives of the trust shall include financing and executing projects for the benefit and sustainable development of host communities. The bill revealed that the power to revoke the licenses is vested on the Minister of Petroleum Resources in the new bill.

Nigeria: 13% Derivation - Host Communities Fume Over States Refusal to Set Up Oil Commissions

Vanguard, 3 November 2020

Oil communities and activists in Akwa Ibom and Bayelsa states have articulated their revulsion at the failure of governments of the two states respectively to establish oil… Read more »
Nigeria: MGT of 13% Derivation - Oil Communities, Stakeholders Outraged, Accuse Governors

Vanguard, 27 October 2020

Host communities and stakeholders in the South-South zone are outraged at governors of the region over how they manage the 13 per cent derivation, saying they (govs) have… Read more »
Nigeria: Oil Companies to Develop Host Community Plan - PIB

Vanguard, 2 November 2020

The New Petroleum Industry Bill (PIB), currently before the National Assembly has proposed that oil companies operating in some communities must develop a community development… Read more »
Nigeria: Oil Firms to Lose Licences Over Neglect of Host Communities

Premium Times, 2 November 2020

The new Petroleum Industry Bill (PIB) before the National Assembly is proposing the revocation of licenses for oil and gas companies who neglect their obligations to the host… Read more »
Nigeria: Minister to Revoke Licenses of Oil Firms Over Neglect of Host Communities

Vanguard, 2 November 2020

The new Petroleum Industry Bill (PIB) before the National Assembly is proposing the revocation of licenses for oil and gas companies who neglect their obligations to the host… Read more »
Nigeria: PIB 2020 - Any Better Deal for Host Communities and the Environment?

Premium Times, 2 November 2020

The bill's major design flaw is the non-inclusive arrangements proposed for the administration of the Host Community Development Trust. The planned framework for delivering… Read more »