The Chairman Senate Committee on Media and Public Affairs, Senator Ajibola Basiru on Friday said that the 9th Senate has been proactive in discharging...
The Chairman Senate Committee on Media and Public Affairs, Senator Ajibola Basiru on Friday said that the 9th Senate has been proactive in discharging its responsibilities in the last one year.
Basiru in the statement titled: “The 9th Senate and the one year after ” said: “Perturbed by dwindling national revenues largely due to vulnerabilities in international price of crude oil, it took steps towards improving revenues from other avenues notably Value Added Tax . “A statutory mandate to review the Act was never complied with for decades and the country lost valuable revenue.“Thus, the amendment passed by this Senate achieved 4 major milestones which are: It revised upwardly the regime of royalty payable on crude produced in deep waters.
He added that in the light of equipping the executive with required legislation in getting maximum return from the oil industry, the 9th Senate is committed to prompt consideration and passage of the Petroleum Industry Bill once same is received from the executive. For instance according to him, when Covid-19 struck in Nigeria with our index case recorded on February 27, 2020, the Senate moved quickly to provide the necessary support for the government.“It also announced a contribution of half of the salaries of all 109 Senators henceforth to the government as its financial support to battling the unprecedented health challenge.”
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