27 February 2012
DERIVATION FORMULA: Niger Delta Gov, Senators, Reps Blast Northern Govs
GOVERNORS of the South-South region are meeting this week to articulate a formal response to increasing agitation from northern leaders for a reduction in the flow of derivation proceeds to oil producing states in the region.
In their reactions, Niger Delta senators and Reps are accusing the Northern leaders of provocation, insensibility and distraction from the Boko Haram insurgency in the north by their calls for a reduction in the revenue accruable to the oil producing Niger Delta states.
Some South-South leaders, however, welcomed the call as perhaps a possible opportunity for the enactment of the fiscal federalism that has been also canvassed by elements in the South-South region.