The Senate and House of Representatives have constituted two committees to fine-tune the controversial Petroleum Industry Bill (PIB) for presidential assent. The two chambers of the National Assembly last Thursday passed the long-awaited PIB but differed on the percentage of yearly expenditure of oil revenue to be devoted to the development of oil-bearing communities. While the Senate approved three percent, the House okayed five per cent. They are in agreement on the 30 per cent of oil and gas profits of the Nigerian National Petroleum Corporation Limited be set aside for exploration in the Lake Chad Basin, Benue trough, Anambra Basin, Dahomey, and Gombe basin. The percentage allocation to the oil host communities and the 30 per cent oil and gas profits for exploration have since the PIB passage drawn the ire of Niger Delta stakeholders, including governors of the 17 Southern states and PANDEF Leader Chief Edwin Clark. The Southern governors had their Lagos meeting on Monday also kicked against the ownership structure of the proposed NNPC Limited and for its supervision to be handled by the Federal Ministry of Finance. On Tuesday, the leaderships of the National Assembly explained that the two committees would meet to harmonise their different positions on the PIB.