PA
SEASONED JOURNALIST AND POLITICAL ANALYST, BABAJIDE KOLADE-OTITOJU, HAS COMMENDED PRESIDENT BOLA TINUBU’S LANDMARK EXECUTIVE ORDER TO STRIP THE NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED (NNPCL) OF ITS LONG-STANDING POWER TO DEDUCT MANAGEMENT FEES AND EXPLORATION FUNDS BEFORE REMITTING THE BALANCE TO THE GOVERNMENT.
WHILE COMMENTING ON THE SIGNIFICANCE OF THE EXECUTIVE ORDER, KOLADE-OTITOJU SAID THE MOVE, NOT ONLY CONFORMS WITH NIGERIAN LAW CONCERNING OWNERSHIP OF MINERAL RESOURCES, IT ENDS THE ERA OF EXTORTION BY THE NNPC.
HE EMPHASISED THAT THE PRESIDENT WAS COURAGEOUS IN CHANGING THE PREVIOUS REMITTANCE ARRANGEMENT AND TAKING THE APPROPRIATE STEP
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Rachel Salami
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