Governors approve autonomy for legislature, judiciary, oppose NNPC ownership

user_icon Governors approve autonomy for legislature, judiciary, oppose NNPC ownership Posted by: NOTICE.COM.NG Staff
calendar-icon Governors approve autonomy for legislature, judiciary, oppose NNPC ownership Posted on: 2021-07-15 08:11:32
Governors approve autonomy for legislature, judiciary, oppose NNPC ownership NNPC-E1491333545387-1200X900-1



The Nigeria Governors' Forum (NGF) has approved a uniform template for the implementation of the Memorandum of Action on financial autonomy for State legislatures and judiciary.

The agreement is contained in a communiqué Wednesday night by the Chairman and Ekiti Governor, Kayode Fayemi after its 32nd teleconference meeting.

The template was signed with the Judiciary Staff Union of Nigeria (JUSUN) and the Parliamentary Staff Association of Nigeria (PASUN) to facilitate the implementation.

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The Forum expressed concern over certain proposed amendments to the Principal Stamp Duties Act by the Senate.

The amendment seeks to remove the powers to administer and collect stamp duties from the Federal Inland Revenue Service (FIRS) or their State counterparts, depending on the nature of the transaction, to the Nigeria Postal Service (NPS).

On the Petroleum Industry Bill (PIB), the governors expressed support of the unbundling and commercialization of the Nigeria National Petroleum Corporation (NNPC).

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They, in spite of that, opposed the proposed ownership structure of the NNPC, which was handed to the Federal Government.

The NGF said given that the corporation is owned by the three tiers of government, NNPC Limited, the new incorporated entity, should be owned by a vehicle that holds the interest of the three tiers of government.

The governors said the 3 per cent share of oil revenue to host communities and 30 per cent share of profit for the exploration of oil and gas in the basins, will be responded to at the National Assembly and the National Economic Council (NEC).

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The forum said it will take a position on the planned privatization of assets of the Niger Delta Power Holding Company (NDPHC), as listed by the Bureau for Public Enterprise (BPE), because it was done without due consultation with state governments, the co-shareholders.


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