NASS: We have not received new PIB from Presidency.

National Assembly, NASS, has denied getting the new copy of Nigeria’s Petroleum Industry, PIB, from the Presidency.

President Muhammadu Buhari was said to have transmitted the 2020 edition of the PIB to the National Assembly.

However, in an interview, a reliable NASS source, said: “We are still on holiday and from my findings, no copy has so far been delivered to us.”

Nevertheless, in a telephone interview, Senior Special Assistant (SSA) to President Buhari on National Assembly Matters (Senate), Senator Babajide Omoworare, said he would get back to newsmen on the subject.

The new PIB is said to be important, especially as it aims at the restructuring as well as transparency and accountability in the oil and gas industry.

Specifically, Section 54(1, 2 and3 )) states among others that, “the Minister (of Petroleum) and the Minister of Finance shall determine the assets, interests, and liabilities of NNPC to be transferred to NNPC Limited or its subsidiaries and upon the identification, the minister shall cause such assets, interests, and liabilities to be transferred to NNPC Limited.

Assets, interests, and liabilities of NNPC not transferred to NNPC Limited or its subsidiary under subsection 1 of this section shall remain the assets, interests, and liabilities of NNPC until they become extinguished or transferred to the government.

“NNPC shall cease to exist after its remaining assets, interests, and liabilities other than its interests, assets, and liabilities transferred to NNPC Limited or its subsidiaries under subsection 1 of this section shall have been extinguished or transferred to the government.”

Section 53 of the bill, also states that the minister shall, “within six months from the commencement of this Act, cause to be incorporated under the Companies and Allied Matters Act, a limited liability company, which shall be called Nigerian National Petroleum Company (NNPC Limited).

“The minister shall be at the incorporation of NNPC Limited, consult with the Minister of Finance to determine the number and nominal value of the shares to be allotted which shall form the initial paid-up share capital of the NNPC Limited and the government shall subscribe and pay cash for the shares.

“Ownership of all shares in NNPC Limited shall be vested in the government at incorporation and held by the Ministry of Finance incorporated on behalf of the government.

Source: Today.ng

Comments

We didn't often agree with each other' - Thiago Silva reveals difficult relationship with former PSG coach Emery.

We didn't often agree with each other' - Thiago Silva reveals difficult relationship with former PSG coach Emery The Brazilian defender has admitted that he didn't see eye-to-eye with the Spaniard when they worked together at Parc des Princes. Thiago Silva has blasted former paris saint Germain boss Unai Emery after being left baffled by his decision to drop him against Real Madride 2017-18 champion league knockout stages. PSG drafted in Emery as their new permanent manager back in 2016 after his successful three-year stint in la_liga with Sevilla. The Spaniard led the French giants to seven trophies, including one ligue 1 title, but failed to guide the team beyond the last-16 stage in Europe's elite competition. PSG were knocked out by Barcelona 6-5 on aggregate after surrendering a 4-0 first-leg lead during his first season in charge, before coming up against Madrid in the last 16 the following year. Silva, who was widely regarded as PSG's most consistent defen

Nigeria Goverment may shut down internet as #EndSARS protests continue...

Nigeria may shut down internet as #EndSARS protests continue... Nigerians not going back on protests for the reform of the police force and total disbandment of the Special Anti- Robbery Squad(SARS), there are speculations that the government might shut down the internet. Six days ago, a video of a fatal police shooting of a Nigerian man, sparked outrage and reignited a public call for the total dissolution of the controversial police unit in the country. The video caused large numbers of Nigerians including celebrities, politicians, and activists calling for justice using hashtags such as #WarOnSars, #EndSars, and #SarsAlert #SARSMUSTEND. With celebrities adding their voice to the #EndSARS campaign, it jumped to the top of global trend on Twitter and drew international support from celebrities and soccer stars like Kanye West, Trey Songs, Mesut Ozil and Marcus Rashford. Nigeria’s superstars, Wizkid and Falz who are also part of this generation of protesters, have been physically

Suspected Car Thief Caught Wth Stolen Toyota Hilux In Nasarawa.

Police Parades Suspected Car Thief After He Was Caught With Stolen Toyota Hilux In Nasarawa The suspect was arrested by police personnel who were on a stop-and-search operation. The Suspect, Solomon Onyino A 38-year-old suspected thief identified as Solomon Onyino has been arrested and paraded by the Nasarawa State Police for allegedly stealing a Toyota Hilux vehicle at Kuruda, Abuja. Spokesperson of the command, ASP Ramhan Nansel, who disclosed this in a statement on Sunday, September 27, said the suspect was arrested by police personnel attached to Akwanga Division, who were on a stop-and-search operation. "On 25/09/2020 at about 0500hrs, information was received that one Toyota Hilux vehicle, white in colour with registration no. APP 68 XM, Property of C&I Leasing PLC was stolen from where it was parked, at Kurudu in the Federal Capital Territory, Abuja, " the statement reads. "Upon receipt of the information, the Commissioner of Police, CP Bola Longe psc(+)

Taatafogist.com

Search This Blog