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{
    "id": 595370,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/595370/?format=api",
    "text_counter": 372,
    "type": "speech",
    "speaker_name": "Hon. Onyura",
    "speaker_title": "",
    "speaker": {
        "id": 12833,
        "legal_name": "Michael Aringo Onyura",
        "slug": "michael-aringo-onyura"
    },
    "content": "board; it also gives detailed functions and powers of the various players such as the Government as exercised through the Cabinet Secretary (CS). The fact is that it provides for the powers and functions of the advisory committee; it also provides ways of regulating the powers of the regulatory committee. Hon. Deputy Speaker, equally important is the issue on the rights of the community in whose area oil and petroleum is discovered, exploited and developed. The fact is that it mentions that all the structures should be put in place to ensure that such a resource is developed to benefit all Kenyans. This is important because these are resources that can be depleted. Therefore, any revenues accruing from them should be used most wisely. I was happy to see that the Bill advocates for the establishment of a sovereign wealth fund, into revenues from these resources can be put and used to develop the country. It should be channeled to development areas that have great effect on the economy. This will be infrastructure, and in particular transport, roads, railways, water ways, and other infrastructural assets like power and water. We know these are exhaustible resources, and much of the revenue is channelled to long-term development ventures and those that can support the economy. When it comes to revenues, the kind of money being talked about is enormous. It will require very clear structures of control, monitoring and auditing, so that we do not find ourselves in situations like that of the Eurobond. Everything is clear, properly controlled, accounted for and done in a transparent way. The Bill addresses the issue of the right to information. This is very important; the nation should all the time be updated on what is happening. I remember just around the time we were told oil had been discovered in various parts of this country, we had a lot of information splashed all over on the television screens and newspapers. After some time, it sort of fizzled out. Nobody seemed to talk about it. Therefore, we do not know what is happening. Where there is lack of information, then you encourage speculation and rumour mongering. I do not think that is the sort of situation we want to find ourselves in. Hon. Deputy Speaker, this Bill has addressed the issues of environment. It is very important particularly when it comes to mining of oil. We have seen what oil spills can do in terms of destruction of the environment. We are happy this area has been addressed; there is a provision on how to deal with accidents and disaster preparedness. More importantly, it contains the requirement that county governments be involved in these activities. With devolution, I expect that county governments will play a bigger role. Finally, I note that the Bill has a very good and clear provision for dispute resolution. This is commendable; there is predictability, order and disputes can be resolved. Thank you, Hon. Deputy Speaker. I support the Bill."
}