The Forum of Finance Commissioners of 36 states has faulted the President, Major General Muhammadu Buhari (retd.)’s proposed amendments to the Petroleum Industry Act.

The Chairman of the forum and Benue State Commissioner for Finance, David Olofu, in an interview with one of our correspondents, said the President’s proposed amendments did not go far enough.

The President  had on Tuesday last week asked the National Assembly  to amend certain provisions of the PIA.

In a letter to the lawmakers, Buhari asked  the National Assembly   to review the administrative structure of the Upstream Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

Buhari is seeking the senators’ approval to increase the number of the non-executive board members of each of the regulatory agencies from two to six to capture the six geopolitical zones.

His request is, however, silent on  contentious three per cent equity share approved for the host communities in the PIA by both chambers of the federal parliament.

The three per cent approved by the National Assembly has attracted condemnation of stakeholders in the Niger Delta, including the Pan-Niger Delta Forum, which described it as injustice to oil-producing communities.

The stakeholders had thought any amendment to the PIA would include an upward review of the three per cent.

They, however, expressed disappointment when the President’s amendments excluded the issue.

Olofu, in an interview with The PUNCH said  amendments made by the President  addressed  some of the concerns of the states.

He said, “The amendments did not go far enough, so we still expect that amendments to the Act are going to continue.”

He, however declined to comment on the recommendations of the six-man committee set up by the finance commissioners’ forum on the PIA neither did he say if the report had been submitted.

He said, “Amendments are likely to continue  because we still have some concerns that have not been taken on board. So issues are going to continue to come up subject to popular demands people are putting forward.

Speaking on the three per cent to host community, the chairman said  the concern about the percentage would continue due to the long deprivation in the oil-producing communities.

He said, “This issue of three  per cent is like spending N10bn  as expenditure and we are looking at three per cent of it, but nothing will ever be enough with level of deprivation in the oil-producing communities over the years.

The Ijaw Youth Council commended the state governments on their position on the amendments to the PIA sought by Buhari.

The council’s spokesman, Ebilade Ekerefe,  said Ijaw youths agreed with the governors for unanimously faulting the President for not collating the concerns of citizens, especially the Niger Delta people, before seeking amendments.

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Ekerefe said, “As a sign of good faith, the President should have also forwarded the contentious clauses in the PIA for amendments as stakeholders in the Niger Delta clamoured for, especially the upward review of the three per cent equity revenue share to host communities and the composition of the Host Community Development Trust to include state governments, local governments, traditional rulers, youths and women in the PIA.

“This is the surest path to peace, stability and development or else it might result in conflict and crisis in the host communities. But what the President has done clearly suggests that the opinions of the people don’t really matter.”