Wednesday,
August 29, 2018 11.53PM / Sen. Ita Enang
By
Presidential communication of July 29, 2018 (one month ago) addressed to
the Senate and House of Representatives, Mr. president did communicate the
decline of assent to the Petroleum Industry Governance Bill, 2018 (PIGB) for
constitutional and legal reasons stated therein.
By convention, it is inappropriate to speak on the content of Executive
communication addressed to the Legislature until same has been read on the
floor in plenary. But i plead for the understanding of the legislature that due
to the misrepresentations in the public domain and apparent deliberate blackmail
which if not promptly addressed may set both the executive and the legislature
against the public and even the international investment community, this
be excused.
None of the reasons for withholding Assent by Mr. President adduced by the
media is true.
In deference to the National Assembly I please state very limited of the
rationale communicated to the legislature, to wit:
a) That
the provision of the Bill permitting the Petroleum Regulatory commission to
retain as much as 10% of the revenue generated unduly increases the funds
accruing to the Petroleum Regulatory commission to the detriment of the revenue
available to the Federal, States, Federal capital Territory and Local
governments in the country.
b) Expanding the scope of
Petroleum equalisation fund and some provisions in divergence from this
administration's policy and indeed conflicting provisions on independent
petroleum equalisation fund.
c) Some
legislative drafting concerns which, if Assented to in the form presented will
create ambiguity and conflict in interpretation.
Other issues therein contained.
May this please answer some of the issues raised until the communication is
read on the floor.
Author
Senator
ITA ENANG is the Presidential liaison to the National Assembly-Senate and
can be contacted by email via: sen@itaenanglaw.com.
He issued this press release yesterday evening.
Related News
13. Oil
Holds Gains Despite Downward Pressure -OIR 290818
14. Bullishness
Is Back In The Oil Market - OIR 250818
15. 165.71mln
Litres of Liquefied Petroleum Gas Imported into Nigeria in Q2 2018
16. A
Saudi-Iran Oil War Could Break Up OPEC