The Grassroots Alternative Movement (GAM) has officially joined the coalition of Liberian organizations and interest groups to demand the 54th Legislature to restore the 5% equity right granted to Liberians by the Petroleum Law enacted by the 53rd Legislature in 2016.
In a statement released Tuesday, GAM says Section 31.6 and Sub-section 36.7 of the 2016 Petroleum Law exclusively set aside 5% equity for Liberians for every oil contract signed.
Unfortunately, the Grassroots Alternative Movement averred that the 54th Legislature in 2019, amended this provision of the Law to grant the very 5% equity right to Liberian Businesses as reflected in Section 36 A, B and C of the new Petroleum Law of Liberia.
The Grassroots Alternative Movement stressed that it takes serious exception to what it describes as overnight amendment of Section 31.6 and Sub-section 36.7 of the 2016 Petroleum Law, indicating that the amended version, 36 A, B and C of the new Petroleum Law of Liberia completely deprives Liberians of the just benefits from their own oil resource.
“Absolutely, there were no credible public hearings and nationwide consultations to ascertain the professional inputs of relevant experts, and most importantly, the inputs of the Liberian people,” GAM emphasized, contending that “In fact, there was no need for such unacceptable change in the Petroleum Law.”
The group maintained that the 54th Legislature acted in bad faith by granting the 5% equity right to ‘so-called Liberian organizations’, which GAM says is only intended to benefit the elite few, particularly cronies of the government.
“As such, the Grassroots Alternative Movement has joined the coalition of Liberian organizations and interest groups to demand the 54th Legislature to return to status quo ante,” the GAM statement read, adding that “Restoring the 5% equity right directly to the Liberian people, not a rich few is nonnegotiable.”
GAM, an advocacy, political and social justice institution committed to establishing a just society in Liberia with the tenets of fair play, equality and justice stressed that it will stop at nothing to ensure that the citizens benefit from their own oil resource.