President Buhari has accented to the bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act while he is still on his private trip in London.
The Chief of Staff to the President, Abba Kyari, on Monday took the bill to President who described the signing as a landmark moment for Nigeria.
In a photo which was posted on social media, Kyari, who was wearing a suit, was seen presenting the bill to the President who was sitting down.
Deep Offshore (and Inland Basin Production Sharing Contract) Act was recently passed into law by the National Assembly. President Buhari in his tweet appreciated the lawmakers for their cooperation in making the ‘long overdue’ amendment possible.
He added that during his 2020 Budget Presentation Speech before the National Assembly in October he had earlier highlighted the need to urgently review the fiscal terms for deep offshore oil fields, to reflect current realities and to ensure increased government revenues.
Buhari, will be in London for the next two weeks, failed to transfer power to Vice-President Yemi Osinbajo as he had done several times in the past.
Some Nigerians, however, seem worried that all memos, bills and other documents requiring the President’s signature had be flown to London for signing while such could have been done by the Vice President.
