Nigerian governor from the southern part of the country has rejected the 30% share alocated for the oil explorations in the northern part of the country.
The governor made their views known on Monday after a meeting held in Lagos by the southern governors forum.
Recall that Nigerian lawmakers recently passed petroleum which was sign into law by President Muhammad Buhari.
The bill allocate 30% of the profit made from the explorations of crude oil for the search of crude oil in the northern part of the country.
In the bill 3% ware allocated to the Host community where the oil is explore.
Currently, crude oil is obtained from eight states in the Niger Delta region which include: Abia, Akwa Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers States.
In a communiqué issued today at the end of their meeting in Alausa, Ikeja, Lagos State, the governors commended “the National Assembly for the progress made in the passage of the PIB”. The communiqué was signed by the Governor of Ondo State and Chairman, Southern Governors’ Forum, Oluwarotimi Akeredolu, SAN.
The communiqué partly read, “The Forum rejects the proposed 3% and support the 5% share of the oil revenue to the host community as recommended by the House of Representatives;
“The forum also rejects the proposed 30% share of profit for the exploration of oil and gas in the basins.
“The forum rejects the ownership structure of the proposed Nigeria National Petroleum Company Limited. The Forum disagrees that the company be vested in the Federal Ministry of Finance but should be held in trust by Nigeria Sovereign Investment Authority since all tiers of Government have stakes in that vehicle.”
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