This is just as the umbrella body for employers in the country, Nigeria Employers Consultative Association, NECA, said only the principle of derivation otherwise known as “Resource Control” will return Nigeria to the path of growth and development.
Citing the axiom, “Seeing is believing”, the South-South leaders dared the northern leaders to undertake a tour of the riverside oil communities of the Niger-Delta by boat to see the difficult terrain, degradation and pollution to fully realize the implication of their demand.
They said it was well known that the South-South had remained consistent in their quest, over the years, for a review of the revenue allocation formula on grounds that the 13 per cent derivation to oil states was insufficient, and so, for anybody to say that 13 per cent should be further slashed was insulting.
The leaders, among them, the first civilian governor of Edo state, Chief John Odigie-Oyegun; former Minister of State for Education, Olorogun Kenneth Gbagi; veteran politician, Senator Francis Okpozo; ex-militant leader, High Chief Government Ekpemupolo, alias Tompolo, and others said the minimum acceptable standard by the South-South in any review of the revenue formula was a return to fiscal federalism.
continue http://nai jane du.com/derivation-formula-north-fishing-for-trouble-%E2%80%93-south-south/
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