(Breaking News) : Southern Governors Reject 30% Profit Share For Oil Exploration In Northern Nigeria

* L-R: Governors – Engr. Seyi Makinde (Oyo); Dr. Douye Diri (Bayelsa); Mr. Ifeanyi Okowa (Delta); Mr. Emmanuel Udom (Akwa Ibom); Prince Dapo Abiodun (Ogun); Mr. Nyesom Wike (Rivers); Arakunrin Rotimi Akeredolu (Ondo); Mr. Ifeanyi Ugwuanyi (Enugu); Mr. Babajide Sanwo-Olu (Lagos); Dr. Kayode Fayemi (Ekiti); Mr. Gboyega Oyetola (Osun); Deputy Governors – Barr. Kelechi Igwe (Ebonyi); Sir Ude Oko Chukwu (Abia); Prof. Placid Njoku (Imo) and Mr. Philips Shuaibu (Edo) during the Southern Nigeria Governors Forum meeting at the Lagos House, Alausa, Ikeja on Monday, July 5, 2021.

 

 

 

…Frowns At Selective Criminal Administration Of Justice

 

…Rejects Proposed 3%, Support 5% Share Oil Revenue To Host Communities Proposed By Reps.

 

 

Governors from the Southern part of Nigeria today rejected the proposed allocation of 30 per cent of the profit generated by the proposed Nigerian National Petroleum Company(NNPC) for the exploration of oil in ‘frontier basins’ as identified by Section 9 of the recently passed Petroleum Industry Bill.

The frontier basins’ include : Chad Basin, Gongola Basin, Sokoto Basin, Dahomey Basin, Bida Basin, Benue Trough, amongst others.

The proposed bill will regulate the oil sector when it is signed by the President,Muhammadu Buhari.

Crude oil is obtained from eight states in the Niger Delta region, they are: Abia, Akwa Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers states.

A communiqué issued today at the end of the governors meeting in Alausa, Ikeja, Lagos State, the governors commended the National Assembly(NASS) 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 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,”the communiqué reads in part.

Below is the Communique issued by the Southern Governors

COMMUNIQUE ISSUED AT THE CONCLUSION OF THE MEETING OF THE GOVERNORS OF SOUTHERN NIGERIA AT THE LAGOS STATE GOVERNMENT HOUSE, IKEJA, LAGOS STATE, ON MONDAY, 5TH JULY, 2021 NIGERIA.

The Southern Governors Forum at the end of the meeting held on Monday, 5th July, 2021 reviewed the situation in the Country and focused on the current security situation, constitutional amendment, Petroleum Industry Bill (PIB).

Rising from the meeting, the Forum agreed on the following:

1. Re-affirmed their commitment to the unity of Nigeria on the pillars of equity, fairness, justice, progress and peaceful co-existence between and among its people.

2. The Forum reiterates its commitment to the politics of equity, fairness and unanimously agrees that the presidency of Nigeria be rotated between Southern and Northern Nigeria and resolved that the next president of Nigeria should emerge from the Southern Region.

3. Security

a. The Forum reviewed the security situation in the country and commends security operatives for their relentless efforts in restoring security and safety and commiserates with families and loved ones of those who have fallen in the line of duty;

b. Re-emphasised the need for State Police;

c. Resolved that if for any reason security institutions need to undertake an operation in any State, the Chief Security Officer of the State must be duly informed;

d. The forum frowns at selective criminal administration of Justice and resolved that arrests should be made within the ambit of the Law and fundamental human rights;

e. Set a timeline of Wednesday, 1st September, 2021 for the promulgation of the anti open grazing law in all member States; and

f. Resolved that Funds deducted from the Federation Account for the Nigeria Police Security Trust Fund should be distributed among the States and Federal Government to combat security challenges.

4.Petroleum Industry Bill (PIB) Law:

i. The Forum commends the National Assembly for the progress made in the passage of the PIB;

ii. 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;

iii. The forum also rejects the proposed 30% share of profit for the exploration of oil and gas in the basins;

iv. However, the forum rejects the ownership structure of the proposed Nigeria National Petroleum Company Limited (NNPC). 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 (NSIA) since all tiers of Government have stakes in that vehicle.

5.In order to consolidate our democracy and strengthen the Electoral process, the Southern Governors’ Forum reject the removal of the Electronic transmission of the election result from the electoral act; and also rejects the confirmation of exclusive jurisdiction in pre-election matters on the Federal High Court.

6. The Forum unanimously chose Lagos State as its permanent secretariat and appreciated the Governor of Lagos State for the wonderful hosting of this meeting while commending him for his good work in the State.

Arakunrin Oluwarotimi Odunayo Akeredolu SAN
Governor, Ondo State and Chairman, Southern Governors’ Forum

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