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HOSCON lauds Buhari over new oil revenue derivation template

President Muhammadu Buhari on Thursday signed an Executive Order to improve his administration’s fight against corruption.

By Nwabueze Okonkwo

ONITSHA—OIL producing communities in the country, under the aegis of  Host Communities Producing Oil and Gas, HOSCON, have lauded President Muhammadu Buhari for approving a new template for calculating oil revenue remittance by the federal government as contained in Section 152 (2) of the 1999 Constitution.

National chairman of  HOSCON, Prince Mike Emuh who gave Buhari a pat on the back in a press statement  issued yesterday to newsmen said its acknowledgement  stemmed from the fact that the new template “is expected to permanently address the controversy over inadequate remittances between the Nigerian National Petroleum Corporation, NNPC, governments of oil producing states and the oil producing communities themselves.”

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