The Senate resolution follows a motion by Senator Mustapha Bukar on the need for the Ministry of Power under Fashola to limit its role to general policy making.
Browsing: Special Purpose Vehicles
“We dare say that at this moment, indigenous people of the Niger Delta region are more than capable of managing and running the refineries optimally and as such no external back-up, investor or financier is required or necessary. We are of the firm view that in the pursuit of peace and sustainable development of the Niger Delta these refineries should be given to our people to finance and run.”
He said, “We have gotten approval for the implementation of the constitutionally guaranteed 13 per cent derivation for mineral revenue to states. This is similar to the derivation that which oil-producing states are currently enjoying from the Federation Account.”