The Senate President, Dr. Bukola Saraki, has stated that the Senate will introduce a host community legislation to complement the Governance and Institutional Framework Bill of the revised Petroleum Industry Bill.
The PIB passed second reading at the Senate on Wednesday.
The Senate President said the legislation would address issues relating to community participation, security and the ecological debt incurred by host communities from oil extraction.
Saraki, in a statement by the Special Adviser to the Senate President on Media and Publicity, Mr. Yusuph Olaniyonu, said with the institutional and governance framework aspect of the PIB at the committee stage, it was necessary for the Senate to begin work on the passage of the host community development legislation.
He said, “For many years now, the PIB has been stalled at different stages for one reason or the other. At this point, the Senate is ready and willing to do everything that it takes to get Nigeria’s economy out of this recession and the efficient and effective management of our oil resources is a key component of this.
“Now that the legislation to provide a governance and institutional framework for the petroleum industry has passed the second reading, it is time to re-introduce the host community development legislation to address the legitimate agitations of the people of the Niger Delta.”
The Senate President expressed optimism that work on the passage of the two “key bills” would be nearing the completion stage before the end of the year.
Saraki also said he had asked senators to work together and introduce the host community development legislation within four weeks.