DERIVATION FORMULA: North fishing for trouble – S-South

Vanguard

1 March 2012

DERIVATION FORMULA: North fishing for trouble – S-South

By Emma Amaize, Regional Editor, South-South

WARRI – Prominent South-South leaders, a former governor and ex-militants in the region, yesterday, took up the northern governors in their agitation for a review of revenue allocation formula saying they were either uninformed,  fishing for trouble or have deliberately set out to provoke the South-South.

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.