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New PIB Exempts NNPC from TSA, Due process

by on April 8, 2016
 

Part 5, Section 62 of the Petroleum Industry Governance Bill, 2016, proposed by the two chambers of the National Assembly, allegedly seeks to empower a “National Petroleum Company” that would execute contracts and transact business on behalf of government without recourse to the Bureau for Public Procurement under the Public Procurement Act and Fiscal Responsibility Act, 2007,  Leadership reports.

These laws were made to ensure due process, transparency and spending restrictions in procurement and other transactions of agencies on behalf government. But with the new proposed law authorising and encouraging the National oil company to spend revenue generated at their discretion, the provision of the Bill may also, besides the Fiscal Responsibility, Public Procurement Acts and the Treasury Single Act policy of government, be in breach of the Constitution.

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