President Muhammadu Buhari Monday signed the controversial Petroleum Industry Bill to law.
The Petroleum Industry Bill 2021 was earlier passed by the Nigerian Senate in July, with a 3% allocation approved for host communities.
Lawmakers from the Southern region had demanded a minimum of 5% for the host communities.
The upper chamber passed the PIB 2021 after the clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream, and Gas) on PIB.
SOURCE: Daily Report Nigeria