Governors from the South-South geopolitical zone of the country, have lauded President Bola Tinubu’s Executive Order mandating the direct remittance of all oil and gas revenues to the Federation Account.
The Governors under the ageis of South-South Governors Forum (SSGF), described it as a historic and landmark decision.
SSGF Chairman and Governor of Bayelsa State, Senator Douye Diri, in a statement on Wednesday, said the region’s governors welcomed the decision as a critical shift towards restoration of constitutional integrity in Nigeria’s petroleum sector.
The Forum stated that the Executive Order was comprehensive, clear and heartwarming, and that it raised hope that after many years of complex deduction structures, the federal, state, and local governments would begin to receive their rightful entitlements from the Federation Account.
They also expressed satisfaction with Mr. President’s move to undertake a comprehensive review of the Petroleum Industry Act (PIA), stressing that it is an affirmation that he is a leader that listens and places the interest of the people above other considerations.
The Forum said the states, especially Bayelsa, had persistently advocated a review of the PIA as the extant Act was a ticking time bomb.
“We also urge the Federal Government to immediately review the aspect where states and local government were excluded from administering what is due to the communities. The states and councils are closer to the communities and it was wrong to have excluded them from the administration of these communities. The current Act is a recipe for crisis and we urge Mr President to review it.” The statement concludes.
South-South Govs Laud Tinubu’s Executive Order On Oil Revenue Remittance
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