Breaking: President Buhari Assents To Deep Offshore Amendment Bill

President Muhammadu Buhari has assented to the Deep Offshore Amendment Bill. 

This was disclosed ye President on Twitter via his verified Handle @MBuhari

“This afternoon I assented to the Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act. This is a landmark moment for Nigeria; let me use this opportunity to thank the National Assembly for the cooperation that produced this long overdue amendment,” the President wrote

President Buhari signing the Bill 

Recall that in his 2020 Budget Presentation Speech delivered before the National Assembly in October, the president “highlighted the need to urgently review the fiscal terms for deep offshore oil fields, to reflect current realities and to ensure increased government revenues.”

President Buhari added that the amendment of the bill was made possible through the combined efforts of the Federal Government and the National Assembly.

“We have together with the 9th National Assembly made history with the passage and the signing of the amended Bill into law.”

The President assured continuous collaboration with the National Assembly in order to deliver the promises to Nigerians.

“We will continue to work together to deliver on all our promises to ensure inclusive growth and enhance the welfare of all Nigerians.”