Why Buhari withholds assent on PIGB – Presidency

Clarifications on reasons why President Muhammadu Buhari withheld assent to the Petroleum Industry Governance Bill, 2018 forwarded to him by the National Assembly in June this year were yesterday made by the presidency .
The presidency in a statement issued by the Senior Special Assistant to President Buhari on National Assembly Matters ( Senate), Senator Ita Enang said the clarifications were necessary in view of erroneous reports on the action published in some of the national dailies yesterday.
According to him, President Buhari in withholding his assent to the bill, never complained of whittling of his powers in anyway by provisions of the bill in the letter he forwarded to both chambers of NASS on the 29th of last month.
The statement reads : “ By Presidential communication of July 29, 2018 (one month ago) addressed to the Senate and House of Representatives, Mr.
president did communicate decline of Assent to the Petroleum Industry Governance Bill, 2018 for constitutional and legal reasons stated therein.
“By convention, it is inappropriate to speak on the content of Executive communication addressed to the Legislature until same has been read on the floor in plenary.
But i plead for the understanding of the legislature that due to the misrepresentations in the public domain and apparent deliberate blackmail which if not promptly addressed may set both the executive and the legislature against the public and even the international investment community, this be excused.
“ None of the reasons for withholding Assent by Mr. President adduced by the media is true.
“In deference to the National Assembly I please state very limited of the rationale communicated to the legislature, to wit: a) That the provision of the Bill permitting the Petroleum Regulatory commission to retain as much as 10% of the revenue generated unduly increases the funds accruing to the Petroleum Regulatory commission to the detriment of the revenue available to the Federal, States, Federal capital Territory and Local governments in the country.
“ b) Expanding the scope of Petroleum equalisation fund and some provisions in divergence from this administration’s policy and indeed conflicting provisions on independent petroleum equalisation fund.
“c) Some legislative drafting concerns which, if Assented to in the form presented will create ambiguity and conflict in interpretation”.