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Time To Review Oil-producing Derivation Sharing Formula - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsTime To Review Oil-producing Derivation Sharing Formula (524 Views)

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Time To Review Oil-producing Derivation Sharing Formula by Validated(op): 3:29pm On Jan 18, 2025
Niger-Delta and governors of oil producing states alongside their NASS and Senate representatives will not wake up now and demand 30% derivation.

Since the Tax reforms bills are now placing VAT at 30% derivation, the oil producing states have to demand equitable level for oil funds. Unfortunately, Akpabio and others will look the other way.

This is a clarion call to Rivers, Delta, Edo, Bayelsa, Ondo, Akwa-Ibom, Imo, and other oil producing states to wake up. What is good for VAT, should also be good for oil.
Re: Time To Review Oil-producing Derivation Sharing Formula by mrvitalis(m): 3:38pm On Jan 18, 2025
Validated:
Niger-Delta and governors of oil producing states alongside their NASS and Senate representatives will not wake up now and demand 30% derivation.

Since the Tax reforms bills are now placing VAT at 30% derivation, the oil producing states have to demand equitable level for oil funds. Unfortunately, Akpabio and others will look the other way.

This is a clarion call to Rivers, Delta, Edo, Bayelsa, Ondo, Akwa-Ibom, Imo, and other oil producing states to wake up. What is good for VAT, should also be good for oil.
Bros allow them pass the tax bill first na

This is how u people made them change their mind on restructuring bill

Stop all this things..
Re: Time To Review Oil-producing Derivation Sharing Formula by kmst: 3:44pm On Jan 18, 2025
Just until a northern ndume open the discussion?
Re: Time To Review Oil-producing Derivation Sharing Formula by Zooposki(f): 3:56pm On Jan 18, 2025
Validated:
Niger-Delta and governors of oil producing states alongside their NASS and Senate representatives will not wake up now and demand 30% derivation.

Since the Tax reforms bills are now placing VAT at 30% derivation, the oil producing states have to demand equitable level for oil funds. Unfortunately, Akpabio and others will look the other way.

This is a clarion call to Rivers, Delta, Edo, Bayelsa, Ondo, Akwa-Ibom, Imo, and other oil producing states to wake up. What is good for VAT, should also be good for oil.
Did Tinubu agree to 30%? Stop placing words in his mouth. His bill said 60% derivation.
Re: Time To Review Oil-producing Derivation Sharing Formula by SmartPolician: 3:58pm On Jan 18, 2025
I think the ND states should be more interested in separating gas from crude oil. In the past, IOCs were flaring gases but not anymore. There are different ministers for oil and gas. ND representatives from the two houses should separate the earnings and define their sharing formula.
Re: Time To Review Oil-producing Derivation Sharing Formula by Zooposki(f): 4:00pm On Jan 18, 2025
SmartPolician:
I think the ND states should be more interested in separating gas from crude oil. In the past, IOCs were flaring gases but the world has moved now and natural gas is being put into good use. There are different ministers for oil and gas. ND representatives from the two houses should separate the earnings and define their sharing formula.
.

The Northern politicians know that resource control will also be negotiated to mimic the Vat bill. That’s why they are fighting the VAT bill so hard. My thoughts.
Re: Time To Review Oil-producing Derivation Sharing Formula by gabbytabby: 4:02pm On Jan 18, 2025
See wetin Ndume dey cause.
Re: Time To Review Oil-producing Derivation Sharing Formula by Validated(op): 4:03pm On Jan 18, 2025
mrvitalis:
Bros allow them pass the tax bill first na

This is how u people made them change their mind on restructuring bill

Stop all this things..
Sorry oo! I might be jumping the gun.
Re: Time To Review Oil-producing Derivation Sharing Formula by horsepower102: 4:03pm On Jan 18, 2025
I warned that if VAT goes through, it will lay the legal foundation for restructuring of the oil and gas sharing formula.

The problem with yorubas is that they want a Nigeria where they can eat their cake and also have access to other peoples cake.

Once VAT laws goes through, you will see what’s coming next.
Re: Time To Review Oil-producing Derivation Sharing Formula by sapele914(m): 9:29pm On Jan 18, 2025
Validated:
Niger-Delta and governors of oil producing states alongside their NASS and Senate representatives will not wake up now and demand 30% derivation.

Since the Tax reforms bills are now placing VAT at 30% derivation, the oil producing states have to demand equitable level for oil funds. Unfortunately, Akpabio and others will look the other way.

This is a clarion call to Rivers, Delta, Edo, Bayelsa, Ondo, Akwa-Ibom, Imo, and other oil producing states to wake up. What is good for VAT, should also be good for oil.
Those Lazy Things despite their comparative advantages cannot build ordinary refinery to add value, it is free natural resources that is their own?

How is it their own? because they were supposedly from that region, no be say na their ancestors plant the crude for ground o.

Bunch of lazy minded Things.
Re: Time To Review Oil-producing Derivation Sharing Formula by sapele914(m): 9:31pm On Jan 18, 2025
horsepower102:
I warned that if VAT goes through, it will lay the legal foundation for restructuring of the oil and gas sharing formula.

The problem with yorubas is that they want a Nigeria where they can eat their cake and also have access to other peoples cake.

Once VAT laws goes through, you will see what’s coming next.
Go & build refineries in your region if you want extra income, the trillions of Naira that u have collected from The FAAC there is absolutely nothing in The Niger Delta region to show for it, absolutely nothing.

Yet some oblivious dreamers are imagining new sharing formula?

Bunch of Jokers.
Re: Time To Review Oil-producing Derivation Sharing Formula by Zooposki(f): 10:10pm On Jan 18, 2025
Re: Time To Review Oil-producing Derivation Sharing Formula by WhizdomXX(m): 11:58pm On Jan 18, 2025
Proceedings from All resources should be 100% derivation while the FG collects a premium on exploring it.
1 Reply

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