The Minister of Petroleum, Timpre Sylva has reacted to agitations made by PANDEF on the newly passed Petroleum Industry Bill (PIB) during a live interview with Channels television.
Recall that several backlashes were thrown at the federal government for giving the host community 3%.
The host communities are also not enjoying basic amenities or magnificent structures or given priority in terms of developing the area despite the huge revenue Nigerian governments get from them, all these were other allegations made by PANDEF.
Defending the sharing formula, Timpre Sylva claims that the newly passed law favours the host communities than any other region in the country. Besides the Petroleum Industry is no longer under any government.
“The Petroleum Industry is not going to any government structure, the structure is going to the host communities and the company. Both parties will set up a trust fund with nominations from both the company and host communities.
“The funds generated will be targeted at the host communities to solve any environmental issues they are facing”.
SOURCE: news-af.feednews.com