16 March 2012
*Reject subsisting revenue formula
*Say current revenue formula breeds corruption in N-Delta
By Emmanuel Aziken
The coalition involving some northern governors, politicians, academics and some of the region’s most erudite personalities in the professions alleged that the subsisting revenue formula was illegal even as it deposed that it was harmful to the oil rich Niger Delta. According to the group, too much money going to the oil rich region was fueling corruption in the Niger Delta.
The position of the northern leaders was articulated at the end of a meeting of the chairmen of its 10 committees recently convened to define the interest of the region.