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"id": 277737,
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"speaker_name": "Mr. Mungatana",
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"id": 185,
"legal_name": "Danson Buya Mungatana",
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"content": "Mr. Deputy Speaker, Sir, we have had the discovery of oil. I am surprised that nothing was mentioned at all by His Excellency in his Speech and yet, we must, as a nation now, talk about the establishment of an Oil Sovereign Fund. We must go after countries which have set examples like Sweden and Norway. They have set aside money that will benefit the rest of the nation. It is like a quiet thing. There are no plans. He did not discuss about the legislation which must be brought here, so that it can be a bipartisan effort in this nation where the discovery of that magnitude can benefit all of us. Even if you are a President who is going away, there are foundations that must be laid. When hon. Musila was talking about coal in his area; hon. Nanok talked about oil in his area and other places. We must have legislation that will say: “60 per cent of this shall go into an Oil Sovereign Fund. This money is going to be used in this and this manner.” That way, we shall remember President Kibaki. The roads are going to be spoiled. These things are going to go but the oil is going to be there for us for many years and generations to come. We should have seen an effort to set up a legislation that will be there for many years to cover what must happen when those minerals come out."
}