By Nneka Nwogwugwu
Senate President Ahmad Lawan has assured that there will be no excuses for anybody who tampers with $500million for host communities.
Lawan spoke in reaction to the three per cent allocated to the Host Community Development Trust Fund in the Petroleum Industry Act (PIA) which has led to outrage.
He said this shortly after a brief ceremony at the Presidential Villa where the President announced the setting up of an implementation Committee for the new law.
The Nation quoted Lawan on Wednesday in Abuja as saying: “The host communities are winners as well. It may not be necessarily exactly what some of them had hoped.
“But, from zero to over $500million and with time, such issues will be further addressed.
“It is about how we can prudently and transparently deploy this $500 million in the host communities.
“This time around, there should be no excuses for anybody to tamper with this money. The host communities have suffered enough.
“This time, the host communities have been specifically mentioned and these funds should go there. We want to see people who will be appointed, taking this as trust and doing what is right.
“Because we are human beings, no Act of human beings could be perfect. So when we can see issues, the National Assembly is there. Bring them for amendment.
“Even the most difficult issues can still be brought back to the National Assembly if it is worthwhile to do so.
“I believe there is no need for us to be emphasising the problems rather than the prospects.”
President Muhammadu Buhari on August 16, 2021, signed the Petroleum Industry Bill (PIB) into law, almost 20 years after it was first introduced and representing a significant milestone for Nigeria’s oil and gas sector.
The assent to the bill in various forms and versions, follows the passage of the harmonized version of the bill by the chambers of the National Assembly on July 2, 2021, after nearly two decades of delay due to stakeholder conflict, host communities’ objections, lack of political will and changes in government.
The passage of the bill which is expected to transform and overhaul the oil and gas sector and encourage more investment in the sector did not go without controversies and conflicts as some of the stakeholders especially the host communities and interest groups disagreed with some sections or provisions of the bill.