In a bid to solve the challenges posed by the current economic recession in Nigeria, the Minority Leader of the House of Representatives, Hon Leo Ogor has moved for a Bill for an Act to Alter the 1999 Constitution (As Amended) and for Other Related Matters.
Ogor who is seeking an amendment of Section 44 Subsection 3 of 'The Principal Act' to read that "Notwithstanding the forgoing provisions of this Section, the entire property in and control of all Minerals in Nigeria or in, under or upon the territorial waters and the Exclusive Economic Zone of Nigeria shall vest in the Government of the States and shall be managed in such a manner as may be prescribed by the State House of Assembly of each state, provided that the percentage of taxes to be paid to the Federal Government shall be fixed by the National Assembly.
Hon. Ogor who represents Isoko North and Isoko South Federal Constituency argued that because of the over reliance on Oil resource, other mineral resources deposited in large and commercial quantities in different states of the federation have remained largely untapped.
"This Bill seeks to vest the control of the revenues derived from Minerals, mineral oils and natural gas in, under or upon any land in the states of the Federation, in the state Governments of the Federation, with the state governments paying as tax, a percentage of the derived revenue from the minerals, mineral oils and natural gas to the Federal Government as may be prescribed by the National Assembly.
He argued that the State of California remains the 6th largest economy in the world even larger than than most European countries simply because they concentrated on the potentials that exists in the land.
The lawmaker further averred that countries like Japan. China, Malaysia, Singapore, Indonesia are developed today because they concentrated on their areas of economic competence and competitive advantage.
"Mr Speaker, I State with all emphasis that in every disadvantage, there is a major advantage. We are in the midst of a major recession threatening the soul of our great nation. There is no State in this country Mr Speaker, that you will not see one form of mineral deposit.
The lawmaker said due to the legal lacuna in the current arrangement where states come to Abuja cap in hand for Federal allocation has kept them lazy and unable to take advantage of the potentials that are inherent in their states.
"Many states are owing and unable to pay workers salaries while there are huge mineral deposits left untapped in their various states.
"We had the great Cocoa era in the West, the groundnut pyramid in the North as well as the Coal era in the East. All of these are now lost because we put our eggs in one basket (oil). It is therefore imperative Mr Speaker and my colleagues that we give this Bill the necessary support in other to steer our country away from the recession currently ravaging us as a nation." He said.
Other members who spoke in favour of the Amendment Bill said the alteration is focused on unlocking Nigeria's potentials while noting that the Bill is coming decades late but has become very expedient because there is the urgent need to end the current recession in the country.
The Speaker, Rt Hon. Yakubu Dogara directed that the bill be committed to the Special Adhoc Committee on Constitutional amendment after passing second reading.
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