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The former Vice President and major contenders in 2019 Presidential election, Atiku Abubakar has accused President Buhari of running Nigerian Government from London after Buhari signed the amended Deep Offshore Bill into law in London, the United Kingdom.
Mr Atiku condemned Buhari’s actions after he failed to transfer power to Vice-President Yemi Osinbajo as he had done several times in the past. ” It is totally wrong for the President to run the Government of Nigeria in London, the right thing is to delegate power to his vice. But he failed to do so.
This implies that all memos, bills and other documents requiring the President’s signature must be taken to London for signing.
The former vice President reacted after the Senior Special Assistant on Media and Publicity, Malam Garba Shehu said in a statement that the President assented to the bill in London.
The statement reads: “Today (Monday) is an important day for all Nigerians – but particularly the young generation.
“I signed into law the amended Deep Offshore Act. Nigeria will now receive its fair, rightful and equitable share of income from our 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 (Monday).”
Buhari said rapid reductions in the cost of exploration, extraction and maintenance of oil fields had occurred over the past 25 years, just as sales prices have risen within the period.
The President added: “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.”
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