Oil producing communities in the Niger Delta region of the country have indicated their preference to have the new bill – the Petroleum Host and Impacted Communities Bill (PHICB) – contain a 50 percent derivation payout to them as against the 13 percent that exists at the moment. The communities demanded that either that would be put in the PIHCB or 25 percent of royalties paid to the government by oil-mining companies be made to come back to them in the bill. They equally stated that they want the bill to be specific on how their environment would be managed by oil companies in such a way that they are protected from the hazards of oil exploration and production. These communities made their positions known at a consultative meeting organized by the Emerald Energy Institute for Petroleum and Energy Economics, Policy and Strategic Studies […]