President Muhammadu Buhari on Wednesday declined assent to the National Oil Spill Detection and Response Agency (NOSDRA) Amendment Bill passed by the National Assembly.
The President’s decision to veto the bill was stated in a letter to the Senate which the Senate President Bukola Saraki read during Wednesday’s plenary session.
In the letter, President Buhari said the bill undermined the powers of the Minister of Petroleum.
“I am declining assent to the bill because one, the bill in a number of important sections undermines the powers of the Honourable Minister of Petroleum and functions and responsibilities of the Ministry of Petroleum Resources,” the President stated.
He added, “Section 8 of the bill imposes a new charge on the industry of 0.5% of operation funds of oil companies for the enforcement of the environmental regulations in the petroleum sector.
“This imposition is an additional burden to the industry, particularly given that it is unclear what operation funds means for the purpose of applying the provisions of the bill.”
In another correspondence to the Senate, President Buhari asked the upper chamber to confirm the appointment of 30 nominees as chairman and commissioners of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC).