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{
    "id": 596057,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/596057/?format=api",
    "text_counter": 86,
    "type": "speech",
    "speaker_name": "Hon. Gichigi",
    "speaker_title": "",
    "speaker": {
        "id": 1909,
        "legal_name": "Samuel Kamunye Gichigi",
        "slug": "samuel-kamunye-gichigi"
    },
    "content": "We also need to put a law that is very specific; that if we have certain resources in this country, we do not want to get them from outside the country. Clause 79 is also good. It is establishing a training fund for local skills. So, it is not just extraction, but it is important to train our people in that sector. Clause 84 talks of profit-sharing between the contractor and the national Government. It is good to put it on paper. Other than the ordinary taxes, the profits or earnings should be shared. The regulation should be clear on the formula that will be used to share those profits or earnings, so that we do not have issues degenerating to court cases all the time. It is also on revenue- sharing between the national Government and the county governments. There is a 5 per cent that is supposed to go to the county governments. We need to think about the 5 per cent that the county government is going to receive in terms of earnings, and in terms of whether it is adequate. Should we go directly and give that percentage? It is good because the revenue is supposed to develop the entire country, including areas that do not have such a resource. Even the money that goes directly to the national Government goes back to the counties through the division of revenue mechanism. Are we not probably compensating twice? But 5 per cent is a good figure since it will be some form of appreciation. Revenue is shared between the national Government and the county governments, but what about prosperity? This is a resource that once it is extracted and exhausted, that is the end of the matter. What about generations that will come? I have heard of national reserves in the Scandinavian countries and, perhaps, this is the route that we should go. It is high time we introduced such laws in this county. This Bill should be a candidate for such an amendment. Out of the revenues that we are collecting today, God just gave us this resource. We should reserve a certain percentage of that money for posterity and generations to come. For example, we can keep that 5 per cent for a number of years. I strongly suggest that we have that national reserve for posterity. As I wind up, Part VII takes care of issues like security. The contractor is supposed to put measures in place because that is petrol and it can cause a major disaster. The contractor is enjoined to put measures in place, warnings and even create a radius around where oil is being extracted - where people cannot settle. I am also happy about compensation for the owners of land. I support."
}