National Legislative Assembly members passed the Petroleum Revenue Management Bill, 2013 to its third reading after a two-day lively debate.
The debate centred around two main points: the name of the bill and the five percent from the oil revenue allocated to crude producing communities and states.
The Transitional Constitution speaks about the oil sector while the bill uses the term petroleum instead of oil.
Some MPs manifested concern how the three percent of oil revenues destined to the communities are managed.
It was underlined that it was not money for chiefs or for salaries but to be used in infrastructure, education and health and it should be specified in the Bill.
The head of the Assembly’s Development, Economy and Finance Committee Paul Logale Jumi concluded the debate.
He said the bill is in line with the Accountability and Transparency Bill, closing all ‘corruption gaps.’
MP Logale praised the MPs for their work and urged the House to forward the Bill to the third reading.
The Petroleum Revenue Management Bill should be passed on Monday.