Nigerian Governors Condemn PIB, states dangers
Nigerian Governors Condemn PIB, states dangers
The Nigeria Governors’ Forum (NGF) has condemned the Petroleum Industry Bill (PIB) recently assented to by President Muhammadu Buhari.
According to the governors, the new law is a recipe for disaster which will plunge the country into more woes.
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In a letter signed on Tuesday by its Chairman and Ekiti State Governor Kayode Fayemi, the forum stated that there are holes in the new law that needs to be addressed.
Fayemi said the pitfalls identified by the governors are in Sections 9(4) and (5); 33; 53(2), (3); (4); 54 (1) and (2); 55 (1); and 64(c) of the new law which has been assented to by the President.
He explained that the law will deny states their fair share from the Federation Account because it only favours the Federal Government.
The governors are unhappy about the provisions for the incorporation of Nigerian National Petroleum Corporation (NNPC) to a limited liability company.
However, the governors hailed the law and described it as good for the oil and gas sector.
It could be recalled that the Nigerian leader signed the controversial bill into law as confirmed in a statement on Monday by his spokesman, Femi Adesina.
Defending the President’s action after many criticisms, the Presidency said the new law can still be reviewed and was still open to amendments.
Nigerian Governors Condemn PIB, states dangers
