Adopting a motion sponsored by Senators Olorunnimbe Mamora (Lagos) and Jibril Aminu (Adamawa), the Upper House also urged the U.S. President George W. Bush not to sign the bill into law.

The No Oil Producing and Exporting Cartel (NOPEC) Bill introduced by the Chairman of the Judiciary Committee of the U.S. House of Representatives, John Conyers, was said to have been passed by the U.S. Congress and is already awaiting the assent of President Bush.

The adopted prayers of the motion read:

That this Senate condemns for reasons already stated, the NOPEC Bill in its entirety as passed by the U.S. Congress;
that this Senate invites the Honourable Minister of Energy (Petroleum), the Minister for Foreign Affairs as well as the Attorney General of the Federation to brief the Senate on this development and their reaction to it, so that this Senate will be able to consider its own reaction in pursuance of the best interest of our people; and
that this Senate urges the U.S. President not to assent to the bill in view of the sovereign rights of the OPEC nations.
Defending his motion, Mamora said that one of the implications of the bill if signed into law was that it would undermine and break the solidarity of the OPEC.

"The passage of the Bill will enable the United States Justice Department to sue member states of OPEC in the name of combating globally unfair measures to drive up oil prices. The Senate should also note that if the bill becomes law, it may subvert the sovereign rights of member states, as it may result in the seizure, through court actions of the assets of OPEC member countries (Nigeria inclusive) held in the U.S. and subsequently those held in some other countries as well", said Mamora.

Such a law, he stressed, would amount to a serious breach of international convention, adding that it could destabilise international trade, global harmony and world peace.

Contributing to the motion, Nicholas Ugbanne (Kogi), described the bill as a neo-colonialist, fascist bill aimed at dislocating the economies of the OPEC countries.

He urged Nigerians to be united against the bill, stating that it would be useless to sit down and be hoping that President Bush would not sign it into law.

Ugbanne suggested that Nigeria should seize this opportunity to remove all her assets in the U.S. and move them to friendly countries.

Anthony Manso (Taraba State) was of the view that Nigeria should immediately put in place measures that would lead to the diversification of the nation's economy.

Also condemning the NOPEC Bill, Uche Chukwumerije (Abia State), said that the international market was a free market of cartels not of individuals.


http://www.guardiannewsngr.com/news/article06
26 September 2007 
 

 

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