Two weeks after both Chambers of the National Assembly passed different versions of the Petroleum Industry Bill (PIB), the fallout that followed the reduction of funds for host communities, finally came to a close yesterday.
The Senate, during the consideration of the Bill crashed the 5 per cent funds earmarked for host communities to 3 per cent. The push for the reduction was spearheaded by Northern senators.
But in the House of Representatives, lawmakers passed 5 per cent as recommended by the Joint Committee on Petroleum. Unlike the Senate, the House of Representatives didn’t tamper with the recommendation.
Based on Parliamentary principle, a Conference Committee was constituted by the President of the Senate, Ahmad Lawan and Speaker of the House of Representatives, Femi Gbajabiamila to reconcile the two positions.
Daily Sun has reliably gathered that the Conference Committee hit a cul de sac. It was learnt that lawmakers who voted during the Committee meeting, opted for regional interests.