House Of Representatives steps down Petroleum Industry Bill, PIB

The House of Representatives has stepped down the controversial Petroleum Industry Bill after an hour-long closed-door session. Further deliberation is expected to hold over the decision while the House is on recess.

Earlier in the day, lawmakers from the South-South had opposed the harmonized PIB allocation to host communities which were pegged at three percent. The Southern lawmakers had insisted that the percentage must be increased to five as against the three percent pushed in the bill.

A debate by the lawmakers on the percent allocated for host communities led to a rowdy session.

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