PETROLEUM (SPECIAL) TRUST FUND

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LAWS OF THE FEDERATION OF NIGERIA

PETROLEUM (SPECIAL) TRUST FUND ACT

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ARRANGEMENT OF SECTIONS

PART I – Establishment and composition, etc., of the Petroleum (Special) Trust Fund and Management Board

1. Establishment of the Petroleum (Special) Trust Fund.
2. Establishment of the Petroleum (Special) Trust Fund Management Board.
3. Functions of the Board.
4. Power of the Board.
5. Membership of the Board.
6. Tenure of office for Board members.
7. Cessation of membership.
8. Establishment of the Trust Fund Project Implementation Task Force, etc.

PART II – Staff of the Fund

9. Appointment of secretary, etc.
10. Removal from office of secretary.
11. Appointment of other staff.
12. Pensions. Cap. P4.

PART III – Financial provisions

13. Sources of funding.
14. Budgetary provisions.
15. Expenses to be paid out of the Fund.
16. Award of contracts.
17. Power to accept gifts.
18. Exemption from tax.
19. Annual estimates, account and audit.
20. Quarterly report.
21. Annual report.
22. Power of the President to give directions.
23. Regulations.
24. Interpretation.
25. Short title.

SCHEDULE

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PETROLEUM (SPECIAL) TRUST FUND ACT

An Act to establish a Special Petroleum Trust Fund into which shall be paid all monies accruing from the sale price of petroleum products; to provide for the identification, funding and execution of projects in various sectors, and for matters connected therein.

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 [Commencement. ] [4th October, 1993]                           

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ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED TO 2018)