Governors approve implementation of financial autonomy for state legislature, judiciary

Governors approve implementation of financial autonomy for state legislature, judiciary

The Nigerian Governors’ Forum has agreed to a uniform template for the implementation of the Memorandum of Action on financial autonomy for state legislatures and judiciary.

This was disclosed by the Chairman of the Forum and Ekiti State Governor, Kayode Fayemi, in a statement on Thursday night, in Abuja, after its 32nd teleconference meeting, according to the News Agency of Nigeria.

The NGF stated that the template was endorsed by the Judiciary Staff Union of Nigeria (JUSUN) and the Parliamentary Staff Association of Nigeria (PASUN) to facilitate the implementation of financial autonomy for the State legislatures and judiciary, following a meeting comprising State Attorney Generals and the Commissioners of Finance held on June 25, 2021.

READ: Communique issued by 17 Nigerian Southern Governors in Lagos

Trustfund Pensions Limited
However, they had concerns over other policy matters including the proposed amendments to the Principal Stamp Duties Act by the Senate, which they say removes the powers to administer and collect stamp duties from the Federal Inland Revenue Service or their State counterparts, depending on the nature of the transaction, to the Nigeria Postal Service.

“The provisions of Section 163 of the 1999 Constitution requires that Stamp Duties on transactions between a company and an individual should be paid to the FIRS and returned to the state of derivation,” the NGF added.

READ: Open grazing ban: Are Southern Governors chasing shadows?

On the Petroleum Industry Bill
the NGF added that it fully supports the unbundling and commercialization of the Nigeria National Petroleum Corporation (NNPC), but had concerns over the proposed ownership structure of the NNPC, which the FG controls.

“The NGF recommends that given that the corporation is owned by the three tiers of government, NNPC Limited, the newly incorporated entity, should be owned by a vehicle that holds the interest of the three tiers of government.

For now, the institution that is positioned to carry out this mandate is the Nigeria Sovereign Investment Authority (NSIA).

This amendment, as well as the proposed 3% share of oil revenue to host communities and 30% share of profit for the exploration of oil and gas in the basins, will be responded to at relevant channels, including the National Assembly and the National Economic Council (NEC),” NGF said.

READ: Southern Governors reject proposed 30% profit share for oil exploration in the North

Jaiz bank
In case you missed it
Recall Nairametrics reported in April that the Governors’ Forum, Conference of Speakers of State Legislature, and other governance stakeholders announced that they reached a resolution over the implementation of financial autonomy for State Legislature and Judiciary.
Members of the Judicial Staff Union of Nigeria (JUSUN), and the Parliamentary Staff Association of Nigeria (PASAN) had gone on strike over the implementation of the judicial financial autonomy in a bid to draw attention to their demands.

Whats Your Reaction

like
1
dislike
0
love
0
funny
0
wow
0
angry
0
  • alheri222
    alheri222 
    That is okay
    2 months ago
  • policeman
    policeman 
    Very interesting
    2 months ago
  • mikky
    mikky 
    Alright
    2 months ago
  • ifiokobong22
    ifiokobong22 
    Okay
    2 months ago
  • vikkywhite
    vikkywhite 
    Ok
    2 months ago
  • victortorres
    victortorres 
    Thank God
    2 months ago
  • vickenconcept
    vickenconcept 
    Ok
    2 months ago
  • hassan
    hassan 
    Good update
    2 months ago
  • charygold
    charygold 
    Okay ooo
    2 months ago
  • opulentkonzy1
    opulentkonzy1 
    Okay
    2 months ago
  • mercy20
    mercy20 
    Ok
    2 months ago
  • brightante
    brightante 
    Thanks for the update
    2 months ago
  • chibuike
    chibuike 
    Ok
    2 months ago
  • babalula
    babalula 
    Nice
    2 months ago
  • mrjohnbless
    mrjohnbless 
    That will be good
    2 months ago
  • israelumoh
    israelumoh 
    Okay
    2 months ago
  • doris
    doris 
    Ok
    2 months ago
  • opulentboss
    opulentboss 
    Ok
    2 months ago
  • opulentkonzy
    opulentkonzy 
    Okay
    2 months ago
  • sheyi001
    sheyi001 
    Okay
    2 months ago