Wednesday, July 6, 2022
  • Login
No Result
View All Result
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
No Result
View All Result
The News Beam
Home News

PIB: Southern Governors Forum Rejects 3% Share for Host Community

July 5, 2021
in News, Politics
Reading Time: 2 mins read
0
A A
0
PIB: Southern Governors Forum Rejects 3% Share for Host Community
Share on FacebookShare on Twitter

The Southern Governors Forum (SGF) has rejected the 3% share of the oil revenue proposed in the Petroleum Industry Bill (PIB). 

This is one of the resolutions of the forum at the meeting hosted by the Lagos State Governor, Babajide Olusola Sanwo-Olu, on Monday, 5th Just, 2021.

According to the communique signed by the Chairman SGF and Governor of Ondo State, Arakunrin Oluwarotimi Odunayo Akeredolu, the governors commended the National Assembly for passing the Bill but supported the 5% share of the oil revenue as recommended by the members of the House of Representatives.

“The Forum commends the National Assembly for the progress made in the passage of the bill.

“The Forum rejects the proposed 3% and supports the 5% share of the oil revenue to the host community as recommended by the House of Representatives.”

In the same vein, the forum rejected the “proposed 30% share of profit for the exploration of oil and gas in the basins.”

“However, the forum rejects the ownership structure of the proposed Nigeria National Petroleum Company Limited (NNPC). The Forum disagrees that the company be vested in the Federal Ministry of Finance but should be held in trust by Nigeria Sovereign Investment Authority (NSIA) since all tiers of Government have stakes in that vehicle.”

READ ALSO; JUST IN! House of Reps Pass Petroleum Industry Bill

Tags: Arakunrin Oluwarotimi Odunayo AkeredoluPIBSouthern Governors Forum
ShareTweetSend
Previous Post

“Before my Daughter was killed by Stray Bullet at Yoruba Nation Campaign…”

Next Post

NDIC to partner BPSR in enhancing innovation in service delivery

Related Posts

Banks suffer 11% reduction in new loans as customers resist interest rate hike
Finance

Banks suffer 11% reduction in new loans as customers resist interest rate hike

June 30, 2022
16
naira
News

Naira sinks to N615/$ as foreign investors worry over dollar scarcity

June 27, 2022
35
Senate President
News

Senate probes Shell over Joint Venture breach, seeks $200m refund to FG

June 22, 2022
11
2.7m Nigerians pay N5.7bn for rail transport in 2021-NBS
Business & Economy

2.7m Nigerians pay N5.7bn for rail transport in 2021-NBS

June 22, 2022
8
Naira CBN
Finance

How to earn 10% interest on your Small Savings

June 20, 2022
38
SERAP
News

Breaking! Court stops INEC from ending voter registration

June 20, 2022
34
Next Post
NDIC to partner BPSR in enhancing innovation in service delivery

NDIC to partner BPSR in enhancing innovation in service delivery

Yomi Fabiyi Releases New Movie to Portray Baba Ijesha's Sexual Assault Saga

Yomi Fabiyi Releases New Movie to Portray Baba Ijesha's Sexual Assault Saga

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

  • Trending
  • Comments
  • Latest
How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

October 16, 2020
Covid-19: See List of Vaccination Centers in Lagos State

Covid-19: See List of Vaccination Centers in Lagos State

August 19, 2021
Banks suffer 11% reduction in new loans as customers resist interest rate hike

CBN reveals 9 Business Categories that recorded Increased Activity This Month

9
BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from 'Anonymous' hack

BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from ‘Anonymous’ hack

7
Banks suffer 11% reduction in new loans as customers resist interest rate hike

Banks suffer 11% reduction in new loans as customers resist interest rate hike

June 30, 2022
naira

Naira sinks to N615/$ as foreign investors worry over dollar scarcity

June 27, 2022

Categories

  • Agriprenuers (12)
  • Books & Arts (6)
  • Business & Economy (421)
  • Capacity Building (21)
  • CDAs (2)
  • Community Champions (1)
  • Crime (195)
  • DEVELOPMENT (73)
  • Development Agencies (109)
  • Economy (314)
  • Education (192)
  • Entertainment (405)
  • Faith (55)
  • Finance (331)
  • Global (103)
  • Guest Columnists (17)
  • Health (242)
  • Health (56)
  • Industry (149)
  • LGAs (1)
  • Lifestyle (97)
  • MGDs (10)
  • News (2,280)
  • Politics (371)
  • Projects (2)
  • Relationships (68)
  • Security (164)
  • SMEs (15)
  • SPECIALS (80)
  • Sports (311)
  • Street Money (9)
  • Tech (138)
  • Teens World (3)
  • The Entrepreneur (23)
  • Uncategorized (64)
  • Your Community (33)
  • Youthprenuers (14)
No Result
View All Result
News
Politics
Business & Economy
Sports
Entertainment
Global

Development

Health
Education
MGDs
Development Agencies

Your Community

CDAs
LGAs
Projects
Community Champions

The Entrepreneur

Street Money
SMEs
Youthprenuers
Agriprenuers
Capacity Building

Specials

Lifestyle
Relationships
Books & Arts
Faith
Teens World
Guest Columnists

Follow Us

  • About Us
  • Contact Us
  • Terms of Usage
  • Privacy Policy
  • Advert Rates
  • Newsletters
  • Resources
  • Submit a Story
No Result
View All Result
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
  • Login

© 2020 The News Beam is the highest circulated and most read newspaper in Nigeria. The online portal of The News Beam is the most visited website in the world.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe With The News Beam