SENATE: NIGERIA LOSES N7TN FOR FAILING TO AMEND PSC ACT

their investments, adding that he is supporting the motion so as to ensure that more money comes to government.

On his part, Senator Opeyemi Bamidele (Ekiti Central), stated that those who enacted the PSC Act were conscious of the fact that it must be dynamic, “but no review has been done after 15 years as stipulated.”

“It even said subject to crude oil price but we have refused to review it for whatever reason and everybody watches Nigeria bleed. We must do something to save this country. There must be cost recovery ceiling, it is 50% in Angola and you can’t go beyond it. We must stop Nigeria from bleeding. Whatever needed to be done must be done,” he added.

Senator Rochas Okorocha (Imo North) attributed the inability to review the PSC Act to those in charge, saying some of these agencies have failed the people and have failed the Nigerian nation.

He said: “We must call these oil companies to order. I think there is need in assigning responsibility to the committee to recover the lost funds, and the oil companies need to sit up and clear the mess they have created.”

On his part, Senate Leader, Senator Yahaya Abdullahi (Kebbi North), said: “We must rise up to the occasion and block the leakages by referring this matter to the Committee on Finance and Committee on Human Rights to make sure that the revenue accruing to us from the PSC are brought to us.”

Also yesterday, the Senate resolved to make urgent budgetary allocation to security agencies to fight the rising wave of insecurity across the nation.

It also pledged to ensure that the National Assembly passed an anti-kidnapping bill to address recurring incidents of kidnapping nationwide.

The decision was sequel to the adoption of a motion moved at the plenary by the Chairman of the Senate committee on Aviation, Senator Dino Melaye, who expressed concern over the activities of kidnappers along Lokoja-Abuja Expressway, which resulted in the kidnapping of 36 people in September alone.

Melaye, who came under Orders 42 and 52 of the Senate Rules, also said a total of nine lives were lost during the incident last month.

The Senate after taking contributions from the Senate Minority Leader, Senator Enyinnanya Abaribe and Chairman of the Senate committee on Marine Transport, Senator Danjuma Goje, condemned the incessant kidnapping and vowed to ensure the formulation of an anti-kidnapping legislation to address the anomaly.

It also agreed to provide more funds to security agencies to allow them tackle the rising wave of insecurity across the country.

Earlier in his motion of urgent national importance, Melaye had drawn the attention of the Senate to the activities of kidnappers on Lokoja-Abuja Expressway, the gateway to about nine states.

According to him, it is the responsibility of the Senate to uphold the tenets of the constitution, “as we should display citizen diplomacy where the lives and property of Nigerians are sacred as kidnapping is now becoming ritualistic, not only on Abuja-Lokoja road, but on every other road across the country”.

He therefore asked the Senate to call on the security agencies to secure the Lokoja-Abuja highway and all other roads in the country as well as asking the Inspector General of Police to intensify efforts to protect lives and property.

Lawan, in his contribution, stressed the need to review the security apparatus of the nation, saying Nigeria is not getting the best from its security agencies.

“Recall that the Senate had mooted for a public hearing to review the security architecture because the way they are we aren’t getting the best from them and we can’t go on like this.

“Our Committee on Communication needs to hear from the Minister of Communication to know how far they have gone with unregistered lines. We need to do something radical: the military and other security agencies must not use the train, they must secure the roads. We need to increase their funding but we must know what they do with it.