The National Assembly last week passed the Petroleum Management Bill and is waiting for President Salva Kiir’s signature to become law.

The bill had been postponed several times due to disagreement on various issues including the five percent share of oil producing states and communities.

Chairperson of the Economy, Development and Finance Committee at the Assembly, Paul Logale Jumi, said if properly implemented the Petroleum Management Bill 2012 will reduce corruption and advance accountability.

Professor Jumi said PMs agreed that 95 percent of the oil revenue goes to the national government, three percent to the oil producing communities and two percent to the producing states.

He explained that the parliament also agreed to give 75 percent of the oil money to budget and 15 percent to the stabilization fund while ten percent remains in the Future Generation Fund.

The MP added that oil producing companies should provide basic services to the oil producing communities.

Prof Jumi said the Future Generation Fund is the money that will be used to provide basic services such as hospitals, schools, airports and bridges that should be enjoyed by the next generation.

He explained that MPs suggested that the two percent of the oil producing state should be used for the benefits of the population in counties, payams and bomas.

Prof Jumi said the Bill will become useless when oil production is shut down again.

He said the government should start looking for alternatives for the Bill to be operational.

Prof Jumi said MPs will discuss Revenue Authority Bill before the end of the year because money from customs is not well managed.

Report by Sudan Catholic Radio Network

File photo: Oil pipeline at the Foluge oil field in South Sudan (UN video)