In spite of reservations raised by Southern Senators on the three percent funding of the host communities development fund, the Senate has approved the report of the conference Committee on the Petroleum Industry Bill.
The report presented during plenary on Thursday by the Senate majority leader, Abdullahi Yahaya.
The Conference Committee stuck with the original three percent operating cost to host Communities as against the five passed at the House of Representatives.
This provision in the bill was opposed by Senators Seriake Dickson and George Sekibo but their submissions were over ruled by the President of the Senate, Ahmad Lawan.
Senator Dickson raised a point of order, expressing the dissatisfaction of the Niger Delta indigenes on the allocation of three percent.
However, the Senate President said the matter has gone past the stage for any debate, insisting that the upper chamber will only rule on the recommendations of the conference Committee which can not be changed.
The approval of the Conference Committee Report finally brings to a close further debate and controversy, at least from the legislative standpoint, with work on the PIB now done and dusted.