Natural disaster bill passed in first reading as legislator sounded alarm over impending earthquake in Niger Delta

Member representing Degema/Bonny Federal Constituency of Rivers State in the House of Representatives, with honors. Farah Dagogo, has raised the alarm of a possible earthquake and tremor in the Niger Delta due to the protracted mining of oil and gas.

In an effort to curb this trend, the legislator has introduced a bill seeking a contingency plan in the event of a natural disaster in the Niger Delta due to a long period of oil exploration and exploitation.

The bill was expanded in first reading on the floor of the House of Representatives.

In the draft bill, which will be included for discussion upon return from the annual holiday, he explained: “The Niger Delta has been witnessing non-stop oil exploration and exploitation since January 15, 1956 when oil was first discovered in commercial quantity in Oloibiri, Bayelsa State.

According to him, he sponsored the bill as part of proactive measures aimed at protecting and meeting the needs of the residents of the region, by “providing guaranteed security for future generations or the citizens of Niger Delta states.”

The bill titled “The Bill to Establish a Fund Reserved to Face Natural Disasters in the Niger Delta” classified natural disasters to include; Earthquake, earthquake, volcanic eruption / eruption, adverse oil spill leading to environmental destruction.

Funding for the proposed law would include “a capital contribution of at least $1 from each barrel of crude oil and an equivalent rate of liquefied natural gas sold by Nigeria; periodically accrued revenue from approved investments executed from the reserved capital fund; other revenue lawfully accrued to the fund reserved by means of Not provided for in the invoice; and such other amounts as may accrue to the capital in the reserved fund from time to time.

In order to avoid misuse of the Fund, Section 2(4) clarified that the Reserved Fund may not be used under any circumstances for the following purposes: ‘as security or security for any form of borrowing by the Government or to make up for shortfalls in recurring or capital expenditures of Government.

Recourse to the Fund may be made only by a proposal of the President “only for the purpose of mitigating the effects of the situation which has led to the natural disaster” submitted to the National Assembly and approved by a two-thirds majority vote of the members of the Council. Parliment “.

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