NGF approves financial autonomy template for Nigerian Legislature, Judiciary

*The governors, under the aegis of Nigeria Governors’ Forum, have approved a uniform template for the implementation of the Memorandum of Action on financial autonomy for State Legislature and Judiciary in the country

Isola Moses | ConsumerConnect

The Nigeria Governors’ Forum (NGF) has approved a uniform template for the implementation of the Memorandum of Action (MoA) on financial autonomy for State Legislature and Judiciary.

ConsumerConnect reports Governor (Dr.) Kayode Fayemi of Ekiti State, Chairman of NGF, said this in a statement night of Wednesday, July 14, 2021, following the Forum’s 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.

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

It is noted that 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 (NIPOST).

In regard to the Petroleum Industry Bill (PIB) the National Assembly (NASS) passed recently, the governors expressed support for the unbundling and commercialisation of the Nigeria National Petroleum Corporation (NNPC).

However, they opposed the proposed ownership structure of the NNPC, which was handed to the Federal Government, according to the governors.

The NGF said given that the state oil 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 promised to respond to the approved three percent share of oil revenue to host communities and 30 percent share of profit for the exploration of oil and gas in the basins at the National Assembly and National Economic Council (NEC) respectively.

The NGF said it would take a position on the planned privatisation of the country’s national assets of the Niger Delta Power Holding Company (NDPHC) by the Bureau for Public Enterprises (BPE).

They contended that the measure was taken without due consultation with state governments as co-shareholders in the Nigerian enterprise.

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