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By Peter Uzoho
On the heels of the proposed establishment of Petroleum Host Community Fund in the Petroleum Industry Bill (PIB) currently at the National Assembly, the Partner, Tax, Regulatory and People’s Services, KPMG, Mr. Wale Ajayi, has called for the scrapping of the Niger Delta Development Commission (NDDC).
Ajayi also canvassed for an end to the discretionary allocation of oil blocks by the President of the country as empowered by the extant petroleum law of the country, saying the PIB has made provision for a competitive bidding process for the allocation of oil blocks.
The KPMG partner made the interventions recently when he featured on Global Business Report, a programme of Arise News Channel, THISDAY’s sister broadcast station.
An analyst with KPMG, Wale Ajayi, has advocated for the scrapping of the Niger Delta Development Commission (NDDC), and the open allocation of oil blocks by the Federal Government.
Ajayi, a Senior Partner, Tax, Regulatory and People’s Services at KPMG, made the call following the proposed establishment of a Petroleum Host Community Fund embedded in the Petroleum Industry Bill (PIB) currently at the National Assembly.
Ajayi who was a guest on a television programme, Global Business Report on Arise TV Network, on Tuesday, said the PIB has made provision for a competitive bidding process for the allocation of oil blocks, and as such, the government should stop the discretionary allocation of oil blocks in the country.