₦airaland Forum

SEN Ifeanyi Ubah's first bill at the 9th Senate signed into law by the president;

This afternoon I assented to the Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act. This is a landmark moment for Nigeria; let me use this opportunity to thank the National Assembly for the cooperation that produced this long overdue amendment.

You will recall that in my 2020 Budget Presentation Speech before the National Assembly in October, I highlighted the need to urgently review the fiscal terms for deep offshore oil fields, to reflect current realities and to ensure increased government revenues.

Now, a month later, we have together with the 9th National Assembly made history with the passage and the signing of the amended Bill into law. We will continue to work together to deliver on all our promises to ensure inclusive growth and enhance the welfare of all Nigerians.

Nigeria will now receive its fair, rightful and equitable share of income from our own natural resources for the first time since 2003.

All attempts to amend the law on the distribution of income have failed. Until today. A combination of complicity by Nigerian politicians and feet-dragging by oil companies has, for more than a quarter-century, conspired to keep oil taxes to the barest minimum.

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.

IN COMMEMORATION OF A VALIANT PATRIOT AND ICON: OJUKWU’S LEGACY LIVES ON.

Today marks Dim Chukwuemeka Odumegwu Ojukwu’s posthumous birthday, a remarkable man and leader who is a true inspiration for bravery and patriotism all over the world.

He was a man with a most powerful narrative. An essential Nigerian story, with a history compelling in several respects. Ikemba Nnewi was a brave soldier and great thinker. Dim was a man with an uncompromised belief in equity, whom circumstances of those times did not leave with any option than to rise in the defence of his people.

Chief Chukwuemeka Odumegwu Ojukwu won the respect of the entire nation with his formidable contributions to the growth and development of “One Nigeria”, particularly with the reunification and proper integration of Igbo people back into the indivisible nation called Nigeria.

Dim Ojukwu fought relentlessly for the emancipation and eventual sustenance of the Igbo Nation. Today, his legacy has consequently birthed the “AFA IGBO EFUNA” movement which is dedicated to the renaissance and preservation of the Igbo dream and legacy.

Ojukwu is gone but his life is full of lessons for us to learn. By the example of his deeds, his legacy will live on, not only in Igbo land and Nigeria but the entire world as we and generations to come will always remember and celebrate the distinct, patriotic and fearless leader who stood for the truth, fought for the truth and in truth he died.

Happy PostHumous Birthday to Ikemba Ndi Igbo!

Senator (Dr.) Ifeanyi Ubah
Ebubechukwuzo
(Founder, Afa Igbo Efuna)
Anambra South Senatorial District

The Prince of the Senate, congratulations in multiples

COURT OF APPEAL SITTING IN ENUGU UPHOLDS MY ELECTION AS THE DULY ELECTED SENATOR REPRESENTING ANAMBRA SOUTH, DISMISSES APPEALS BY CHRIS UBA AND ANDY UBA FOR LACK OF MERIT.

To the glory of God, the Court of Appeal sitting in Enugu this morning affirmed my electoral victory as Senator representing Anambra South Senatorial District.

The appellate court in a lead judgment delivered by Hon. Justice Ibrahim M. Saulawa, upheld the decision of the tribunal and dismissed the appeals of Chief Chris Uba of PDP and Senator Andy Uba of APC for lacking merit.

Today’s judgement is indeed a clear indication that the third arm of government is the last hope of the common man. This is indeed a victory for democracy, Anambra South and Nigeria at large. I want to appreciate the judiciary for rising up to its solemn responsibility of ensuring that justice prevailed without fear of favour or prejudice.

I wish to specially thank my wife and family who have stood with me through the entire process, you all have been a reliable and firm pillar of support who have shown me the meaning of consistency and faithfulness through your love for me.

I also want to use this medium to salute the gallantry of my friends, critical sponsors, well wishers and supporters who stood firmly with me through the course of this electoral battle. They should hold their heads high as persons who stood up to be counted when I needed them most, I will never be able to repay your kindness and steadfastness. History will be kind to you all!

I dedicate this victory to God from whom leadership comes. To Ndi Anambra Anambra South, I promise to continue to deliver on the sacred mandate given to me by the people. Our goal is closer now than ever and the path is now clear for focused piloting of Anambra South’s affairs to the much expected higher levels. I am convinced that a glorious future is beckoning Anambra South and Igbo Nation.

May I also use this medium to once again, appreciate the disposition of Chief Nicholas Ukachukwu, who accepted the election result in good faith and opted to respect the will of the people. Your conduct has reaffirmed the faith you have in God and I sincerely look forward to fruitfully synergizing with you for the betterment of Ndi Anambra South and Anambra State in general.

Now that the legal battles are over, the Igbo Economic Recovery Agenda can now come on full course. It is my belief that with the verdict of the Appeal court, we should give peace a chance. Now is the time to focus on the daunting task of rebuilding and recovering Anambra South and the Igbo economy from its present state of underdevelopment and wanton set back in all facets.

I am under no illusion that I can realize this vision alone as I have always believed that the task of society building cannot be realized single handedly by any leader, but by the collective effort of every one of us. I hereby stretch a hand of fellowship and urge Chief Chris Uba, Senator Andy Uba, Chief Nicholas Ukachukwu as well as the electorate, men and women of goodwill, to join hands with me as we strive to actualize the task of rebuilding and developing Anambra South. No victor, no vanquished!

It is my sincere hope that with your relentless support, ideas and prayers, I will continue to fashion our legislative interventions for the development of my Senatorial District, the South eastern economy and Nigeria at large.

Senator (Dr.) Patrick Ifeanyi Ubah
(Ebubechukwuzo)
Anambra South Senatorial District

https://www.nairaland.com/4634542/ifeanyi-ubah-capacity-capability-win#69641334

[quote author=justiz5 post=83493467]My child was dropped from U-17 W’Cup for DSS boss’ son –Oduko

England-based football scout, Ese Udoko, in this interview with KELVIN EKERETE alleges that his son, Ogaga, was unjustly dropped from the Golden Eaglets squad at the ongoing Brazil 2019 U-17 World Cup for Abba Abichi, son of the Director-General, Department of State Service, Bichi Magaji, after helping the team qualify for the World Cup.

Is it true that your son Ogaga Oduko was dropped for Abba Bichi, son of the DSS boss, Bichi Magaji?

It is true. My son Ogaga was substituted for Bichi Magaji’s son, Abba Bichi, and there is no other way we can point otherwise. Those coaches are the ones destroying Nigerian football. I believe the officials from the top are corrupt as well. It is affecting Nigerian football. The less-privileged kids cannot genuinely represent their country without having a godfather.


But there is a claim that you are just an agent to Ogaga and not his father…

(Cuts in) Ogaga is my adopted son. He lost both parents at the age of 10. I came to Nigeria to do my scouting programme in 2016 for less-privileged talented kids across four states in Nigeria. The final selection was held in Lagos. He borrowed money to come and there I spotted him. He told me his story and I have been taking care of him in my academy since then, along with his two siblings.

How long was your son in the U-17 camp?

I took him for the U-17 trials and he passed. He has been with the team for a long time. He went with them to Tanzania (U-17 AFCON, qualifiers for the World Cup). He was the one that lost the last penalty in the semi-final 10-9 defeat to Guinea in Tanzania. They refused to feature him in the third-place game because of that and the Eaglets lost the match. He is an attacking midfielder, better than what they have in that midfield, but the coaches told me that they would convert him to left-back, as they don’t have one. And that is the only way he can make the team. I told my son to adapt and because of his talent, he adapted and since then he has been with the U-17.

Do you think he was dropped because he wasn’t good enough?

Not at all. When Ogaga was with the national team, he worked hard and merited it. I was about bringing him to the United Kingdom, but I had not finalised the adoption process then. After the process, I felt that he should take a shot at the national team and that will qualify him to play in England. And also, the other players can see that hard work and dedication with your talent can take you to the top. He has been with the team until they came back from Tanzania. During their two months break. I asked for his passport, so he can apply for UK visa, as Arsenal wanted to see him. I told the coach, but they refused to give me his passport. The excuse was that they don’t want to lose him. They felt that if he joined a club in England, he would not want to come back and play for the national team. The boy was angry but I encouraged him to bear it.

Is there evidence that he was dropped directly for Bichi?

https://cdn.punchng.com/wp-content/uploads/2019/10/26234423/ogaga.jpg
Ogaga

He traveled to Turkey for the tournament before travelling to Brazil with the team, but at the last minute he was dropped and was replaced with a player I now believe is the son of the head of security service in Nigeria because the NFF wanted to avoid corruption charges. So, they have to curry the head of security by bringing his son and other officials’ children and dropping talented players who don’t have any backing. I did not know the politics that was played, because I was not there. I know that boy was nowhere before, and suddenly at the last minute he replaced a regular player.



Some are of the opinion that Ogaga was dropped because he wasn’t a regular in Manu Garba’s squad…

My boy is a regular, the only match he did not play (in Tanzania) they lost. There is no way you can tell me that they have another excuse for dropping a regular player. I chatted with the coaches and their excuse was that it is a group decision. I know other players were dropped as well. I felt for my boy and the others, but I need to point this injustice out. It has been going on in the national team camp for too long. He has been with the team for months. Ogaga was in Tanzania and Turkey. He also made the final list of 25 to Brazil.

Did anyone at any point request for money from you to include Ogaga in the Eaglets’ U-17 World Cup squad?


They requested for money before they went to Tanzania. I refused to give anything. I told them, ‘let his talent make way for him.’ After using the boy to qualify, they dropped him without thinking. I know this situation might make my relationship with some Nigeria Football Federation members dented. I have set up a youth league currently running in Nigeria in four states.

Having gone through this experience, would you still allow Ogaga play for Nigeria in the future?

This is what I’m fighting for. I want a situation where talented players in Nigeria can represent their country on merit. I have a mission to raise players with their right ages for the national team to win the 2020 World Cup. This is a big challenge for me moving forward with the mandate. I will still allow him play for Nigeria. These people will not be there forever.

What does the future hold for Ogaga now?

He will be coming for trials with a Premier League club I don’t want to reveal now. Arsenal will still have their eyes on him. They were actually coming to watch him in BraziL. He would have been drafted straight away into their U-19 squad if he had played at the world Cup. A Premier League club is waiting for Ogagga already, but they want me to bring him to the UK first.

How can this issue of dropping better qualified players for more influential players be addressed?

The youth football structure needs to be well organised. The country should be able to watch young players from the age of 15. This is why I am running a youth league in Nigeria. Once coaches make their 25-man list, the regular players selected initially should not be dropped; rather the coaches should adjust a player who is not performing well to the bench. A regular player can only be dropped if they commit a serious offence. When a regular player is omitted from the team rather than dropping them to the bench, it should be questioned and looked into by independent professionals, rather than the officials.

https://punchng.com/my-child-was-dropped-from-u-17-wcup-for-dss-boss-son-oduko/[/quote


Have you heard the result of their match yesterday, they won convincingly without your adopted son, the you claimed they used replace your adapted son, didn't even Make the starting line up

Breaking news! The prince of the Senate, Senator Ifeanyi Ubah has done it again! He has blessed some people with new motors, despite the Court cases and other challenges, he has continued to do one of the things he knows how to do best, putting smiles on people's face, among those that were privileged are, the state coordinator and state women leader of AFAIGBOEFUNA, and the State Coordinator of the ACTIVE VOTERS FOR SDPIU, while handing the keys over to them, he charged them to always remember to keep their eyes on the ball, bearing in mind that it's still ONE MORE SHOT TO GO! the lucky recipients thanked him for finding them worthy to be blessed with cars, promising and pledging their full fledged support for him, promising to take this struggle to an enviable height

Breaking News: Anambra South Senatorial District Appeal 2019

Ifeanyi Ubah vs Chris Uba briefs have been heard and adopted by the 5 man panel of Court of Appeal judges Enugu headed by Hon. Justice Ibrahim M. Saulawa, other members of the panel include: Hon. Justice Ibrahim S. Bdliya, Hon. Justice Fatima O. Akinbami, Hon. Justice Oludotun A. Adefope Okojie and Hon. Justice Abubakar M. Lamido

The judgement has been reserved indefinitely to be communicated to both parties.

On Ifeanyi Ubah vs Andy Uba; counsels to both parties will this afternoon, file their briefs which will be heard by the same court later today.

Senator Ifeanyi Ubah, Chief Cletus Ibeto, Chief Allen Onyema of Air Peace and others attend Nauth Nnewi CMD Son's wedding in Awka

Senator Ifeanyi Ubah on Saturday attended the wedding ceremony of Adaeze Cecilia and Kenechukwu Anthony, held in Amazon Multipurpose Event Centre, Awka, Anambra.

Mr. Kenechukwu Anthony is son of Prof. Anthony Osita and Barriater Lady Theodora Okwy Igwebe.

Prof. Anthony Osita Igwebe is the Chief Medical Director of Nnamdi Azikiwe Teaching Hospital (NAUTH), Nnewi.

Other prominent personalities in the event includes: Chief Cletus Ibeto (Omekannaya Nnewi), Chief Allen Onyema Chairman/CEO of Air Peace Airline, Chief George Moghalu; MD of NIWA, Rt. Hon. Uche Okafor; Speaker Anambra State House of Assembly and others.

Hotworta1:
Most Nigerian politicians are dunces.

See o let me tell una something...if you are a very good politician, the masses don't mind dying for you. As a politician always do the right thing expected and at the right time,,,do anything you can to bring relief and succour to the pple, be the voice of the masses and they will always love you.


If you check,, most pple chanting in this video may have beeen victims of the ill fated Wednesday inferno...but on sighting the politician man,,,pains and anguish disappeared.


See the way Willie Willie has been pushed aside and relegated to the gutters!

https://www.youtube.com/watch?v=HD6V_DfEuqs

Still on Senator Ifeanyi Ubah's visits to Onitsha.

Hopes high as Ifeanyi Ubah visits Onitsha, vows to put measures that will end petrol tanker explosion in Nigeria

Hopes high as Ifeanyi Ubah visits Onitsha, vows to put measures that will end petrol tanker explosion in Nigeria

In Furtherance of his efforts to commiserate with victims of the petrol tanker explosions in Ochanja Market and Omagba, Onitsha, the Senator representing Anambra South and national leader of Young Progressives Party (YPP), Dr. Patrick Ifeanyi Ubah on Friday visited the scenes of the explosions and survivors who are presently receiving treatment at Toronto Hospital Onitsha. The Senator who moved straight to the scenes immediately after his return from Abuja urged the marketers to keep hope alive as efforts are already in place to give them every necessary assistance. He further informed them that he is relentlessly working towards a Bill that will prevent such tragedy across the country in the future.

In their response, the marketers who jubilated upon sighting the Anambra South Senator thanked him for his efforts so far in promoting the Igbo economy. They further said that the Senator’s visit is a big relief to them because he has given them more reason to keep hope alive. The marketers who spoke through their leaders further described Senator Ubah as a big blessing to Anambra State and urged him to keep the good works up.

After addressing residents and marketers at the scenes of the explosions, Senator Ubah went to Toronto Hospital Onitsha to sympathize with the survivors who are receiving treatment. At the hospital, the Senator prayed God to grant them quick recovery and informed them that he has already donated two million naira for their treatment and that a register has been opened for them under the Ifeanyi Ubah Foundation to offset their medical bills and feeding costs. Senator Ubah who also sympathized with families of those that lost their loved ones to the incidents prayed God to grant the souls of the deceased eternal rest and to also grant their families the fortitude to bear the irreplaceable loss.

Senator Ubah further visited Elite Club Onitsha who donated all the water used in extinguishing the flames caused by the tanker explosion that occurred early Friday morning in Omagba. At the visit, he thanked them for their service to humanity and assured them reiterated his zeal to put measures that will put petrol tanker explosions to an end in the country.


https://www.youtube.com/watch?v=emHnF_o4ljM


https://www.youtube.com/watch?v=VXN2OEcR-JI

WHAT A TRAGEDY OH FIRE....OZOEMEZINA

SENATOR IFEANYI UBAH SYMPATHIZES WITH ONITSHA PEOPLE, DONATES N2MILLION NAIRA FOR THE TREATMENT OF SURVIVORS.

I am deeply grieved and saddened at the news of the fuel tanker accident in Onitsha today, resulting in the loss of many lives and properties.

As I mourn with you over the loss of lives occasioned by his tragic event, on behalf of the good people of Anambra South, I would like to convey my most heartfelt condolences to the bereaved families. Whatever circumstances that might have led to this unfortunate incident must be thoroughly addressed to ensure that such tragedy does not occur again.

This tragic incident brings to cognizance, the need to prioritize the implementation of effective and practical fuel tanker explosion preventive policies and measures in Nigeria.

In the past, I have proffered a lasting solution that would have curtailed this regrettable occurrence. However, I am relentlessly working and intensifying efforts to sponsor my forthcoming bill which will address this ugly menace that has left so many lives, businesses and properties in unquantifiable ruins.

I have just deposited the sum of Two Million Naira (N2,000,000) to Toronto Hospital Onitsha for the treatment of survivors of the fuel tanker explosion. A register has been opened under the *Ifeanyi Ubah Foundation* to offset the medical bills and feeding cost of victims receiving treatment.

My prayers and thoughts are with everyone affected by this tragedy. May God Almighty receive in his Arms, the souls of all those who have just left us and grant the bereaved the fortitude to withstand this irreparable loss.
It is my sincere hope and prayer that this tragic incident will be the last of its kind.

Ozoemezina!

Senator (Dr.) Ifeanyi Ubah
Anambra South Senatorial District.



https://www.youtube.com/watch?v=HD6V_DfEuqs

Nigeria may get $1.5bn as Senate amends PSC Act.


October 16, 2019

Sunday Aborisade,  Abuja

The Senate on Tuesday unanimously passed a  bill  amending  the Offshore and Inland Basin Production Sharing Contract Act 2014.
The President of the Senate, Ahmad Lawan,   said the bill which had amended the PSC Act was not meant to discourage investment.
He  said Nigeria would be at least $1.5bn richer in 2020 as a result of the amended bill.

The lawmaker said, “We expect that they (international oil companies) will continue to do business in Nigeria with this new legislation.

“When we do legislation in the National Assembly, we will always be mindful of the need to have a competitive environment just like we have done.

“We have done what could not be done  since   2003. So today marks a milestone in the life of this Senate in particular and the National Assembly in general.
 “By passing the bill Nigeria will be at least $1.5bn richer in 2020.

“Our committees, together with the NNPC, worked together till 5am this morning to put together this report.

“We also received an executive communication from the sponsors here, Akpan Albert and Ifeanyi Uba, who co-sponsored (the bill).”

The  Senate   had  discovered that the IOCs had failed to remit the  sum of   N7tn  ($21bn) to the Federal Government  in the last 26 years based on  non-implementation of the  PSC Act.

Oil firms like Chevron, Exxon Mobil, Shell and South Atlantic Petroleum came into fore during debate on the motion sponsored to that effect by Ubah.

Ubah in the motion co-sponsored by 27 other senators, informed the Senate that  the salient  provisions of the contractual agreements between Nigeria and the affected oil firms had not been adhered to by parties concerned.

CONGRATULATIONS TO NIGERIA AS SENATE FINALLY PASSES DEEP OFFSHORE AND INLAND BASIN PRODUCTION SHARING CONTRACT CAP D3 LFN (AMENDMENT) BILL 2019..

FEDERAL GOVERNMENT SET TO EARN ADDITIONAL $1.5BILLION ACCRUABLE OIL REVENUE FROM 2020 DUE TO THE BILL PASSAGE

…….MORE ACCOLADES AS SENATE PRESIDENT; SENATOR AHMAD LAWAN REAFFIRMS SENATOR IFEANYI UBAH AS THE PRINCE OF THE SENATE.

Sequel to my motion on the “Urgent need to review and recover additional revenue accruable to the Government of the Federation from the production sharing contracts pursuant to section 16 of the Deep offshore and Inland Basin Production Sharing Contract Cap D3 LFN 2004 (Amendment) Bill 2019 which I sponsored on Wednesday, October 2, 2019.

I co-sponsored an amendment bill which was read the first and second time on October 3rd and 8th respectively. After the Second reading, the bill was transmitted to the Joint Committees on Petroleum Resources (Upstream), Gas Resources and Finance for further legislative action.

Having embarked on a comparative overview of Fiscal elements for Oil producing African countries such as:
Mozambique - Royalty: 0%, Tax:32%
Ghana - Royalty: 12.5%, Tax:35%
Tanzania - Royalty:7.5%, Tax:30%
Congo - Royalty: 12.25%, Tax:36%
Equatorial Guinea- Royalty 13.19%, Tax:35%
Angola - Royalty: 0%, Tax:50%
Nigeria PSC -Royalty: 0.12%, Tax:50%
Egypt- Royalty: 10%, Tax:40%

This amendment alters the royalty payable by the PSC contractors so that whenever oil and gas price increases the share of government increases with the automatic inception of the newly introduced royalty which is determined by price mechanism.

The bill provides that whenever oil price goes above US20 per barrel, the royalty by price shall kick on for each of the terrains. The royalty regime proposed by the bill for oil is as follows:
1. From $0 and up to $20 per barrel: 0%
2. Above $20 and up to $60 per barrel: 2.5% per dollar increase.
3. Above $60 and up to $100 per barrel:4% percent per dollar increase.
4. Above $100 and up to $150 per barrel: 8%
5. Above $150 per barrel: 10%

Highlights of the amendments and review of the Deep Offshore and Inland Basin Production Sharing Contract Act Cap D3 LFN 2004 include:

1. Amendment of the provisions for payment of royalty which requires that all licenses and lease holders in the deep offshore shall pay stipulated royalties irrespective of water depth or terrain of their operation.

2. Adoption of a regime of royalty price to ensure that royalty payable is reflexive in accordance with the changes in the price of crude oil, condensates and natural gas.

3. Inclusion of clause mandatory periodic review of the PSCs, and

4. Inclusion of an offence and penalty clause to deter persons from flouting provisions of the Act.

I want to specially appreciate the Senate President; *Senator Ahmad Lawan* for his relentless and tireless effort in ensuring that the bill is passed. In his remark, he described the bill as groundbreaking and the fastest bill to be passed in the history of the Senate. Hence, affirming my stand as the Prince of the Ninth Senate. It is deeply humbling to have the fastest and biggest bill in the Nigerian Senate despite being the only YPP Senator amongst so many distinguished Senators. This is a clear testament of the Senate Leadership’s trust in my capacity and the confidence reposed on me.

To my committee Chairman; Senator Albert Bassey Akpan, committee members and fellow Distinguished colleagues, I thank you all for the unanimous expression of support which aided the smooth passage of the Bill. It is indeed a thing of pride that in less than six months, the Ninth Senate has been able to achieve this long awaited amendment which has deprived our nation of accruable revenue running into billions of US dollars since 2003.

In due course, the bill will be transmitted to the President of Nigeria for review and assent.

Senator (Dr.) Ifeanyi Ubah
Anambra South Senatorial District



https://www.youtube.com/watch?v=JAy1kLte5cg

SEN. JOINT COMMITTEE HEARING ON THE BILL TO AMEND DEEP OFFSHORE SHARING CONTRACT CAP D3 LFN COMMENCES.

SENATE JOINT COMMITTEE HEARING ON THE BILL TO AMEND DEEP OFFSHORE AND INLAND BASIN PRODUCTION SHARING CONTRACT CAP D3 LFN (AMENDMENT) BILL 2019 COMMENCES.
[sub][/sub]
Today, October 14, 2019, the Senate Joint Committee on Petroleum Resources(Upstream),Gas,Finance,and the Judiciary and human Rights officially commenced public hearing on the bill to amend the Deep Offshore and Inland Basin Production Sharing Contract, Cap D3 LFN (Amendment) Bill 2019.

The amendment bill which seeks to address the systemic negligence and non-review of the PSC Act which for over a period of 20 years, has incurred a revenue loss of about $21 billion for the Federal Government is premised upon Section 16 of the Act which allows for periodic review of the Act.

During the hearing, I emphasized that the joint committees are working closely with the Nigerian National Petroleum Corporation(NNPC) and relevant industry stakeholders to ensure that the bill is passed so as to Generate an additional accruable revenue of 30billion naira monthly (360billion annually) for the Federal Government.

With President Muhammadu Buhari’s willingness to ensure that the bill is actualized, it is expected that the amendment Bill will be passed by the Senate within the next few weeks. I will continue to monitor developments and provide further highlights on the progress of the amendment Bill.

Present at the hearing were the Honorable Minister of State for Petroleum,Chief Timipre Sylva ,the GMD of the Nigerian National Petroleum Corporation (NNPC); Malam Mele Kyari, executive heads of International Oil Companies,Department of Petroleum Resources (DPR) and other key industry players.

Senator (Dr.) Ifeanyi Ubah
Anambra South Senatorial District

More on CEO Chrome's daughter wedding in Lagos.

Still on CEO Chrome's daughter wedding

Ubah, Tinubu, Kwankwanso, Fayemi and others attend CEO Chrome's daughter wedding in Lagos.

Senator Ifeanyi Ubah, Tinubu, Kwankwanso, Fayemi and others attend CEO Chrome's daughter wedding in Lagos.

Ubah, Tinubu, Kwankwanso, Fayemi and others attend CEO Chrome's daughter wedding in Lagos.

Senator (Dr.) Ifeanyi Ubah and his lovely wife, Mrs. Uchenna Ubah on Saturday, 12th October attended the wedding ceremony of Mrs Njideka and Mr. Ugochukwu Udu, held in Oriental Hotel, Victoria Island, Lagos.

Mrs Njideka Udu (nee Offor) is a daughter of Sir (Dr.) Emeka Offor; Chairman/CEO of Chrome and Chairman, Enugu Electricity Distribution Company (EEDC).

Other prominent people in the event include:
Bola Ahmed Tinubu; APC National Leader, Baba Gana Kingigbe; former SGF of Nigeria, Governors: H.E. Kayode Fayemi; Ekiti State Governor, H.E. Emeka Ihedioha; Imo State Governor, Senators: H.E. Ken Nnamani; Former Senate President of Nigeria, Senator Ike Ekweremadu; former Deputy Senate President and current Senator Enugu East, H.E. Ibikunle Amosun; former Governor of Ogun State and Senator Ogun Central, H.E. Engr Rabiu Musa Kwankwaso; former Governor of Kano State and Senator Kano Central, Lady Uche Ekwunife; Senator Anambra Central, Senator Annie Okonkwo, Senator Osita Izunaso, Ministers of the Federal Republic of Nigeria; Lai Mohammed, Hon. Emeka Nwajiuba, Comrade Tony Nwoye, former Federal House Member, AnambraEast and West, George Moghalu, Hon. Ifeanyi Ibezim; Federal House Member Idemili North and South.

Engr. Ernest Ndukwe; Chairman of MTN Nigeria PLC, Chief Osita Chidoka; former Minister of Aviation, Chief Alex Otti; former Diamond Bank Group Managing Director, and others like: Popupar blogger Linda Ikeji, Jude Nges Okoye and many others.

NATIONAL INSTITUTE FOR BUSINESS STUDIES NNEWI, ANAMBRA ESTABLISHMENT BILL 2019 SPONSORED BY SENATOR IFEANYI UBAH HAS PASSED FIRST READING ON THE SENATE FLOOR TODAY.

To the glory of God, today being Wednesday, October 9, 2019, my Bill for the establishment of National Institute of Business Studies Nnewi, Anambra State has passed the first reading with an overwhelming majority of the Senate.

In line with my vision to consolidate Anambra South’s credential as the commercial and business melting pot of Nigeria, this is a Bill for an act to establish the National Institute for Business Studies Nnewi, Anambra State which will provide full time courses in business studies, technology, applied science, commerce and management; and other fields of studies.

The bill seeks to make provision for technical and professional business training for both emerging and existing entrepreneurs, as well as ensuring better educated, globally competitive and innovative entrepreneurs. This institute is aimed at instilling positive impacts on the professional and ethical standards of business management which will have a significant impact on emerging entrepreneurs.

When assented to, the Business Studies Institute will help channel a pathway for rising entrepreneurs by providing full or part time courses of instruction and training in business studies, technology, applied science, commerce and management; as well as other fields of applied learning relevant to the needs of the development of Nigeria in the area of industrial and agricultural production and for research in the development and adaptation of business techniques as the council of the institute may from time to time determine.

Conclusively, in view of the efforts being made by the Federal Government to diversify the Nigerian economy, the need to encourage business/entrepreneurial education cannot be over emphasized, hence the need to Establish the National Business Studies Institute Nnewi, Anambra. It is therefore my expectation that having passed the first reading, the bill will be read the second time and recommended to the relevant committee for further legislative action.

Also, yesterday, at the presentation of the 2020 National budget to the National Assembly by President Muhammadu Buhari, the President reiterated the need for the passage of my amendment bill on the Deep Offshore and Inland Basin Production Sharing Contract CAP D3 LFN 2004 Act (Amendment which I sponsored on October 3, 2019.

My bill subsequently passed second reading on the Senate floor and was referred to the Senate committees on Petroleum(Upstream), Finance and Gas. The committees were directed to report back to the senate in plenary within thirty days.

Senator (Dr.) Patrick Ifeanyi Ubah.
Anambra South Senatorial District.


https://www.youtube.com/watch?v=-7oabeAyddY

THE COPIES OF THE ELECTION PETITION TRIBUNAL'S RULINGS ON 9TH SEPT. 2019 @ AWKA PART 2.
The Hon Justice Okara Ebimie Thelma's led three man panel of judges presiding over the National and State Houses of Assembly Election Petition Tribunal Holden at Awka, on the 9th of Sept. 2019, unanimously upheld the election of Senator Dr Patrick Ifeanyi Ubah as the duly and lawfully elected Senator to represent the good people of Anambra South District at the 9th Senate. It will be recalled that the two UBA Brothers Chris (PDP),and Andy (APC), who were rejected by the voters in the said election went to the election petition tribunal praying it to nullify the victory and the divine mandate given to Senator Ifeanyi Ubah by the Anambra South electorates. Here is the certified true copy of their judgement as obtained.

https://www.facebook.com/1159989311/posts/10220504512700395/?app=fbl

The Hon Justice Okara Ebimie Thelma's led three man panel of judges presiding over the National and State Houses of Assembly Election Petition Tribunal Holden at Awka, on the 9th of Sept. 2019, unanimously upheld the election of Senator Dr Patrick Ifeanyi Ubah as the duly and lawfully elected Senator to represent the good people of Anambra South District at the 9th Senate. It will be recalled that the two UBA Brothers Chris (PDP),and Andy (APC), who were rejected by the voters in the said election went to the election petition tribunal praying it to nullify the victory and the divine mandate given to Senator Ifeanyi Ubah by the Anambra South electorates. Here is the certified true copy of their judgement as obtained.

https://www.facebook.com/1159989311/posts/10220503525635719/?app=fbl

MY FIRST BILL WHICH WAS CO-SPONSORED BY SENATOR AKPAN ALBERT BASSEY AND MY HUMBLE SELF HAS PASSED FIRST READING WITHIN 24 HOURS OF PRESENTATION OF MY MOTION ON THE RECOVERY OF ACCRUABLE OIL REVENUE.

Yesterday, to the glory of God, my first bill as a Senator which came in line with the motion I sponsored on Wednesday, October 2, 2019 on the Deep Offshore and Inland Basin Production Sharing Contract CAP D3 LFN 2004 Act (Amendment) Bill 2019 passed first reading on the floor of the Senate because of it’s importance and the need to augment the National budget through additional accruable oil revenue.

This Bill which was described by my fellow distinguished colleagues as one of the epoch making bills in the Ninth Senate was borne out of the compelling need to checkmate the systemic negligence and non-review of the PSC Act which has made the Federal Government lose about $21 billion over the past years. According to the Ministry of Finance’s projected 2020-2022 Medium Term Fiscal Framework; if the bill is passed, N160billion will be earmarked for the 2020 fiscal year, N320billion for 2021 and 457billion for the 2022 fiscal year as federally collectible revenue accruable to the Federal Government as a result of the review of the PSC agreement Act.

Nigeria stands to gain an additional sum above 30billion naira monthly (360billion annually) if the amendment bill is passed. Having passed the first reading, this marks the beginning of a new era in the Nigerian Petroleum landscape. It is therefore my expectation that the bill, if passed into law will yield significant results in stemming the systemic financial leakages in the Nigerian Petroleum Sector and optimally increase our nation’s revenue base so as to ensure that Government serves our people better.

The Bill is premised upon Section 16 of the Act which allows for periodic review of the Act. Section 16(1) of the Act which provides that where the price of crude oil at any time exceeds $20 per barrel the share of the government in the additional revenue shall be adjusted under the PSC to such extent that such adjustment will be economically beneficial to the government of the Federation. and address the deeply entrenched financial leakage in the Nigerian Petroleum industry.

As the Vice Chairman, Senate Committee on Petroleum (Upstream), I am decisive about taking intentional steps to entrench transparency and accountability in the Nigerian Upstream Petroleum industry so as to increase the Federal Government’s share of revenue accruing from oil trading. I am proud to be a major contributor in this National revenue boosting bill which is part of my early legislative inputs in the Senate.

I want to express gratitude particularly to the Senate President, His Excellency; Senator Ahmad Lawan and the entire leadership of the Senate, most especially my Chairman in the Senate Petroleum Upstream committee; Senator Akpan Albert Bassey for his support and efforts in making this bill a reality. To my Distinguished colleagues, may I seize this opportunity to commend you for the high sense of patriotism, maturity and unparalleled commitment exhibited. These are clear indications of the import and sense of duty you attach to your call to national service.

Conclusively, I thank my family, friends and supporters who have shown enormous support through their good words and unwavering confidence in me. I want to reassure you all that my priority will always be to work for the betterment of public interest through robust, effective and detailed legislation and oversight to ensure that my people derive the dividends of democracy.

Senator (Dr.) Patrick feanyi Ubah.
(Anambra South Senatorial District).

Badonasty:
Lol...this bastard wan dey use him position fight competitors

I strongly advice that you should really be very careful with your choice of words.

NIGERIAN SENATE APPROVES SENATOR IFEANYI UBAH’S MOTION TO INVESTIGATE CRUDE OIL REVENUE LOSS WHICH WILL GENERATE N360 BILLION ANNUALLY THROUGH THE REVIEW OF THE DEEP OFFSHORE AND INLAND BASIN PRODUCTION SHARING CONTRACT ACT CAP D3 LFN 2004 AND AMENDMENT OF ACT

To the glory of God, today, The Senate approved my motion which will generate N360 billion annually for the Federal Government through the review of the Deep Offshore and Inland basin production sharing Contract Act.

The Deep Offshore and Inland Basin Production Sharing Contract Act Cap D3 LFN 2004 (PSC Act) became effective on January 1, 1993, and is supposed to be reviewed after 15 years.

I emphatically highlighted that due to systemic negligence and non-review of the PSC Act, the Federal Government has lost about $21 billion over a period of 20 years as confirmed by the Minister of State for Petroleum Resources after a meeting of the Federal Executive Council on the 14th December 2017. Consequently, the Senate also approved the investigation of Oil companies over failure to remit over $21 billion to the national treasury.

I noted that Nigeria, having lost trillions of Naira due to the non-review of the PSC Act, stands to gain an additional sum above *N360 billion annually* if the Act is reviewed and amended which would boost our revenue base significantly.

I also raised concerns about the fact that the Senate Committee on Petroleum Resources Upstream has over several years been inundated with a plethora of petitions and complaints and has suo motu observed that the Government of the Federation has lost several billions of United States dollars in potentially accruable revenue due to the non-review and amendment of the salient provisions of the Deep Offshore and Inland Basin Production Sharing Contract Act Cap D3 LFN 2004 and especially section 16 of the Act which regulates the sharing of additional revenue between the Nigerian National Petroleum Corporation (NNPC) and the various Production Sharing Contract oil companies.

Also aware of the fact that Production Sharing Contract (PSC) is a contractual arrangement for petroleum exploration and production whereby the state as owner of the petroleum resources engages a contractor to provide technical and financial services for exploration and production operations for an agreed share in profit oil after payments of royalty, cost and tax oil, and that this contractual arrangement were offered by the Federal Government of Nigeria in the 1991 licensing round and its terms was codified into a legislation namely, the Deep Offshore and Inland Basin Production Sharing Contract Act Cap D3 LFN 2004 (PSC Act) which became effective on January 1, 1993.

I further noted that Nigeria presently has seven fields from the 1993 PSCs which are currently in production, namely:
(a) Abo (OML 125) – operated by ENI;
(b) Agbami-Ekoli (OML 127 and OML 128) – operated by Chevron;
(c) Akpo and Egina (OML 130) – operated by Total and South Atlantic Petroleum;
(d) Bonga (OML 118) – operated by Shell;
(e) Erha (OML 133) – operated by ExxonMobil;
(f) Okwori and Nda (OML 126) – operated by Addax; and
(g) Usan (OML 138) – operated by ExxonMobil.

I also observed that currently and more so in the near and foreseeable future, the PSCs will continue to play an increasingly dominant role in terms of contribution to Nigeria oil and gas production by contract arrangement because relative to the production from the Joint Venture Contract arrangement, the PSCs contribution rose from 0.50% (4,000,348 barrels) to 18.70% (193,143,992 barrels) per annum between 1998 and 2005 and its contribution has grown since the year 2006 from 18.37% (188,479,413 barrels) to over 39% (199,254,000 barrels) per annum in 2018.

I raised urgent concerns on the fact that in spite of the high contribution of PSCs to total production, the contribution of revenue per barrel of PSCs oil in terms of government take is significantly lower than the contribution of revenue per barrel of Joint Venture oil largely because of the harsh and inequitable terms of the Production Sharing Contracts and the failure to review the salient provisions of the PSC Act

Futhermore, I noted that section 16 of the PSC Act provides that where the price of crude oil exceeds US$20 per barrel, the PSC Act will be reviewed to ensure that the share of the Federal Government of Nigeria (FGN) in the additional revenue is adjusted to the extent that the PSCs shall be economically beneficial to the FGN and that in any event, the PSC Act may be reviewed after 15 years from its commencement in 1993 and every 5 years thereafter.

Cognizant of the fact that the PSC Act recognizes and anticipates the necessity for post execution and periodic review of the Act to ensure that government derives maximum and equitable benefits from the PSCs and, to wit, set out the following review incidents and datelines in the Act:
(a) Price-induced review of the provisions of the PSC Act – that is, a review to be undertaken whenever the price of crude oil exceeds US$20 per barrel, real terms, in order to increase revenue accruable to the Government of the Federation from the PSCs.
(b) Review of the entire provisions of the PSC Act (including sharing-formula provisions contained in the Act) 15 years after the commencement of the Act in 1993; and
(c) Review of the entire provisions of the PSC Act every 5 years thereafter.

Having carefully observed that no review of the Act was undertaken at the statutorily stipulated price-induced and/or anniversary-induced datelines, specifically:
(a) when crude oil price exceeded US$20 in 2004;
(b) at the 15th year anniversary of the PSC Contract, specifically on the 1st day of January 2008; and
(c) at every 5th anniversary post the 15th year anniversary of the Production Sharing Contract (which are the 1st day of January, 2013 and the 1st day of January, 2018).

I pointed out that several unsuccessful efforts have been made in the past to review or amend the PSC Act through private members and government sponsored bills in the 8th and other preceding sessions of this National Assembly.

While observing that there is a subsisting ruling alongside a consent judgement (Terms of Settlement) of the Supreme Court (SC/964/2016) delivered on the 17th day of October, 2018 emanating from a suit titled Suit No. SC/964/2016 commenced in 2016 by the Attorneys-General of Akwa Ibom, Bayelsa and Rivers States (as plaintiffs) against the Attorney-General of the Federation (as defendant), pursuant to the original jurisdiction of the Supreme Court, which sought to compel the Federal Government to review the PSC Act as stipulated in section 16 and to recover arrears of revenues which would have accrued to the Federal Government and by extension to the Plaintiff-states (through their constitutional entitlement to derivation) covering the years the provisions of section 16 were not reviewed and amended.

Up till date, the PSC Act has not been reviewed and or amended to ensure that government derives maximum and equitable benefits from the PSCs as provided in the Act.

I noted that as a result of the non-review and amendment of the PSC Act, the Federal Government has lost about US$21 billion (about N7trillion) over a period of 20 years due the failure to review and amend the PSC Act as stated by the Honourable Minister of State for Petroleum Resources following the meeting of the Federal Executive Council on the 14th day of December, 2017.

Bearing in mind that the principal role of the National Assembly is to make or amend subsisting laws of the Federation of Nigeria, which power is derived from the provisions of section 4 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and exercised through the passing of bills as provided in section 58 of the same constitution.

Aware of the urgent need to thoroughly investigate the reasons for the failure to review the salient provisions of the PSC Act, identify the best fiscal regime for the PSCs and review the provisions of the PSC Act to ensure that beyond the crude oil price of US$20, the share of the Federal Government of Nigeria (FGN) in the additional revenue is adjusted to the extent that the PSCs shall be economically beneficial to the FGN in accordance with the provisions of the Act;

Conclusively, fully convinced of the need to review the provisions of the PSC Act to ensure that the Federal Government and by implication the states entitled to derivation recover arrears of revenues which would have accrued to the Federal Government and the states afore-said covering the years the provisions of section 16 of the PSC Act were not reviewed and implemented. In line with the sheer patriotism of the ably focused 9th Senate that works for Nigeria;

In view of the points I raised, the Senate accordingly mandated the Senate Committee on Petroleum Resources Upstream in collaboration with the Judiciary and Ministry of Finance to investigate the reasons for the failure to review the salient provisions of the PSC Act, identify the best fiscal regime for the PSCs and review the provisions of the PSC Act to ensure that beyond the crude oil price of US$20, the share of the Federal Government of Nigeria (FGN) in the additional revenue is adjusted in accordance with the provisions of the Act;

The Senate further mandated the Senate Committee on Petroleum Resources Upstream to recover arrears of revenues which would have accrued to the Federal Government and by implication the states entitled to derivation covering the years the provisions of section 16 of the PSC Act were not reviewed and implemented.

The Senate also directed it’s committee on Petroleum Upstream to come up with a bill on the amendment of the PSC Act.

I am grateful that this motion was passed and highly applauded by the Senate as timely and patriotic. The motion which is a brainchild of my in-depth knowledge and expertise in the Petroleum sector has exposed the extremely appalling reality that Nigeria has recorded such monumental revenue loss over the last 15 years and this revenue, if recovered would serve as a mid term fiscal plan to consolidate the 2020 budget.


Senator (Dr.) Ifeanyi Ubah.
*Anambra South Senatorial District.*