Department of Business and Private Law

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Browsing Department of Business and Private Law by Author "*Animashaun, O.O *"

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    Should Petroleum Profit Tax in Nigeria be in the Exclusive or Residual Legislative List?
    (Faculty of Law, Kwara State University, Malete, 2021) *Animashaun, O.O *
    The issue of the legislation and the collection of taxes on natural resource have always been a contentious issue in any political entity, more so in a federation of many nationalities with varied cultures, aspirations, religions, mores and geographies. Nigeria is a forced amalgamation of different peoples into a single collectivity. This problematic past has now given birth to a troubled present and an uncertain future with regards to the issue of ownership, legislation and taxation of petroleum resources, among other issues. The oil producing states are advocating for resource control, which vests ownership and absolute control of petroleum resources, including the levying and collection of the appropriate taxes in the affected states. The antagonist of this stance, predominantly from Northern Nigeria, unequivocally maintained that petroleum resources are national heritage, the proceeds of which must be used by all, without taking into cognizance the detrimental effect of oil exploration in the affected region. This contention has led to protest, unrest and militancy in the oil producing areas, which was ameliorated in part by military engagement, cash payments, scholarship and bursary schemes, amnesty and other palliative programmes by the Federal authorities for the militant youths and the general populace. The study looks at the Nigerian statutes and did a comparative analysis with other jurisdictions on whether the collection of petroleum profit tax should be a federal or regional affair. The study advanced reasons why the levying and collection of the tax should still be a federal affair, but with certain qualifications.