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Barely one week to the exit of the 8th Assembly, the House of Representatives Tuesday passed the Petroleum Industry Governance Bill (PIGB) and South-East Development Commission Bill.
President Muhammadu Buhari had declined assent to the harmonised PIGB and 47 others transmitted by the Clerk to the National Assembly (CNA) between June 2015 and May 2019.
According to the communication sent by Mr. President observed 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.”
After the passage of the clause by clause of the bill at the plenary Speaker of the House, Yakubu Dogara who chaired the Committee of the Whole explained that the House has addressed all the grey areas raised by the Executive.
He disclosed that both Chambers had passed the bill earlier before it was returned by the President who raised some concerns.
Dogara affirmed that every observation raised by the President and the Executive arm of government has been taken care of and cleaned up.
Similarly, the House passed the Bill which seeks to establish the South-East Development Commission to serve as catalyst to develop the commercial potentials of the South-Eas, receive and manage funds from allocation of the Federation for the rehabilitation, reconstruction and repatriation for houses and lostrich businesses of victims of the … Read More...