The National Chairman of the All Progressives Congress, Adams Oshiomhole has rationalized the signing of the new Deep Offshore and Inland Basin bill by President Muhammadu Buhari in London, the United Kingdom as a sign that the president can preside anywhere.
The signing of the bill by the President while on vacation; has sparked renewed speculation on the relationship between him and the Vice President, Prof. Yemi Osinbajo; as many argued that the President should have handed over to his deputy.
However, Oshiomhole on Tuesday, November 5, while paying a courtesy visit to President of the Senate, Ahmad Lawan stated that the President is within his rights.
Oshiomole said: “I was also excited to see Mr President sign into law that Act in London.
“I think by signing into law at the Nigerian House in London shows that the wherever the President is, he is presiding over Nigeria and with the benefit of modern technology, we have passed the Mongo Park era.
“So signing it in London for me has also made several statements. Namely, that where ever national interest is involved, the President is on duty and wherever he is, he is presiding. I also salute his assenting to the Bill as fast as he did and even at the Nigerian House in London.”
The APC Chairman also commended opposition parties for their support in passing the bill.
He said: “And even on this issue, we also want to extend the same compliment to the PDP members in the National Assembly because we didn’t hear a discordance on this, including YPP – all the opposition parties.”
The Senate President, Ahmad Lawan in his remarks highlighted the positives with the newly-signed bill.
According to him, Nigeria will start receiving about $1.5 billion when it operates at $55 to a barrel.
“We passed the amendments to this Deep Offshore and inland basin Production Sharing Contract. It may interest you to know that Nigeria receives $268million only before this amendment.
“After the amendment when the bill will start to operate, at $55 to a barrel, Nigeria will receive about $1.5billion. Going up to $60 (per barrel) it will be close to $2billion. That is a monumental quantum leap actually,” he said.