Business
PIB: Stakeholders Insist On 10% Fund
Stakeholders in the oil
and Environment sectors have called for a review of the new version of the Petroleum Industry Governance Bill before its passage into law.
The group made the call recently at an Environment Parliament held in Yenagoa to examine the provisions of the bill which is currently before the National Assembly.
A new version of the PIB which removes the 10 per cent host community fund component as proposed in the earlier versions has been represented for deliberation at the National Assembly.
In a presentation that examined the various components of the draft bill, a legal expert, Dr Simon Amaduobogha, pointed out that the bill in its present form does not guarantee public participation and protection of the environment.
In similar vein, the Head of Legal Department of ERA/FOEN, Mr Chima Williams, said the new version of the bill reduced the discretionary powers of the Petroleum Minister in certain areas.
Williams noted that the bill did not prescribe clear cut roles and responsibilities between the minister and the proposed Nigerian Petroleum Regulatory Commisison.
According to ERA/FoEN, the session became necessary in view of the review of the PIB which has been renamed Petroleum Industry Governance Bill.
Some experts at the event who reviewed the current provisions in the Bill which is geared towards its unbundling, underscored the need to include environmental governance, community participation and security.
Dr Godwin Ojo, Executive Director of ERA/FoEN stressed that passing the bill into law without expanding its provisions to accommodate key issues which are presently lacking in it would amount to an exercise in futility.
Participants regretted that since 2008 when efforts were first made to introduce the PIB eight years after, it has yet to see the light of day.
They urged the legislature to ensure that the 10 per cent equity of the host communities recommended in the provisions version be introduced before passing it into law.
Participants at the session were drawn from civil society organisations, oil-bearing communities, the media, legal experts, environmentalists, youth groups as well as women groups.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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