PANDEF fumes, North to get 30% oil profit share as Buhari assents to PIB

The group described as outrageous and fraudulent, the allocation of 30 per cent for the exploration of oil in the frontier basins, noting that oil business is a private affair and that investors should use their resources in the search for oil anywhere in the country.

PANDEF had insisted that the equity share must be 10 per cent for host communities and rejected the 3 per cent allocated for host communities in the just signed Petroleum Industry Act. On the allocation of 30 per cent for oil exploration in the frontier basins, Robinson said, “It is an outrageous provision, it is fraudulent, it is a way of siphoning Nigeria’s money. When you allocate 30 per cent of profit for exploration. The oil exploration in the Niger Delta was not carried out with Nigeria’s money. The oil industry is a business and if anybody wants to explore oil, they should spend their money, they should invest their money.

“That’s what happened in the Niger Delta; Nigeria did not spend money to explore oil. So, when you take our money, 30 per cent of the supposed profit of the NNPC, it is fraudulent conduit pipe to siphon Nigeria’s money for whatever purposes they have set out for themselves.”

There is NO oil in the North. The monies allocated for oil exploration in the North is going into pockets of the same thieves. God help us!

ayemojubar Edwin Clark and co don cashout. Ndi Niger delta how market?

2).....only because of crude oil....

1)Not a single thing was said about the gold mined in Zamfara State that has remitted ZERO revenue to the Federal coffers. Parasitic Union of Exploitation......The day crude oil finishes in the South, they will break this country and push you out themselves. One Nigeria is......

We were the southern senators and representatives when this bill was debated? Serious problem will soon emerge in this country from the way things are going. What we are seeing is a tip of the iceberg.

Empty fumes

NASS does exactly what Buhari wants. So his signing the bill is just a formality. The representathieves from the South are there just as mannequins, they can't change anything.

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