From Ndubuisi Orji, Abuja
Some members of the House of Representatives on Thursday protested on the floor of the House over the five per cent equity for the oil communities in the Petroleum Industry Bill ( PIB).
The members, who are mainly from the oil-producing states, were heard shouting: ‘give us our five per cent!’
The House had approved a five per cent equity fund for host communities, while the Senate approved three per cent.
However, a conference committee set by both chambers adopted the three per cent formula.
After repeated efforts to calm the agitated members failed, House Speaker Femi Gbajabiamila called for an executive session at about 12:13 pm.