Reports that President Muhammadu Buhari signed on Monday a law on the oil industry that will be of immense benefit to Nigeria, was overshadowed by the information that the signing was done in London, where Buhari is vacationing, in the presence of his chief of staff, Abba Kyari.
According to the President, “Today is an important day for all Nigerians – but particularly the young generation.
“Today I signed into law the amended Deep Offshore Act. Nigeria will now receive its fair, rightful and equitable share of income from our own natural resources for the first time since 2003.
“In that year oil prices began a steep increase to double – and at times – triple over the following decade.
“All this time Nigeria has failed to secure its equitable share of the proceeds of oil production, for all attempts to amend the law on the distribution of income have failed. That is, until today.
“Rapid reductions in the cost of exploration, extraction and maintenance of oil fields had occurred over these 25 years, at the same time as sales prices have risen.
“A combination of complicity by Nigerian politicians and feet-dragging by oil companies has, for more than a quarter-century, conspired to keep taxes to the barest minimum above $20 per barrel – even as now the price is some three times the value.
“Today this changes. For the first time under our amended law, 200 million Nigerians will start to receive a fair return on the surfeit of resources of our lands. Increased income will allow for new hospitals, schools, infrastructure and jobs.
“Today marks a new and beneficial relationship with our oil company partners: one that benefits all – starting with the Nigerian people.”
The import of the signing, in which the president was casually dressed and Abba Kyari was even suited, was lost as Nigerians questioned the appropriateness of the president’s action when there is a vice president in Nigeria.
Buhari left Nigeria for a 21-day trip without transmitting power to the Vice-President, with his spin doctors saying he could govern from anywhere, including when he is not officially working for the country.
Here are some reactions by Nigerians below:
Like for real, Abba Kyari traveled to London so President Buhari who is on a private visit could sign the PSC bill. All these at the expense of tax payers.— iSi (@simmeonii) November 4, 2019
Since Mr President is on a private visit, what stops the VP Osinbajo from signing the bill? pic.twitter.com/Zoh6CoIbKf
Why on earth would overzealous (oversabi) Malam Abba Kyari board an aircraft (highly likely with tax payers money) to London for the President (who is on a private leave) to sign a bill into law while fully knowing that the VP is around. Total disregard and disrespect to the VP.— I AM THE CHOSEN ONE (@sadiqabubakr) November 4, 2019
Abba Kyari flew to London for just a signature that the vice president can sign without minding the financial (borrowed money) cost.— Taita (@simingi) November 4, 2019
And we are still seeking to borrow more to maintain our high cost governance.!!
So Abba Kyari flew all the way to London to give PMB documents to sign. I feel sorry for Osinbajo.— . (@YusufTahirAdamu) November 4, 2019
Nigeria's seat of govt has officially been moved to London by this single act by Abba kyari and @NGRPresident @MBuhari https://t.co/7cOGtKb7eh— ☀ Affidavit President | The illuminator (@konilingos) November 4, 2019
Abba Kyari, the next power behind our throne after Mamman Daura in #Nigeria.— AyeMojubar ☣️ (@ayemojubar) November 4, 2019
They are done with Osinbajo, a scaffolding material to give false 2023 hope to the Yorubas. Tinubu is the next on their list. Wait for it. pic.twitter.com/ECKRXYmnU2
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