S’South govs disagree with North over revenue sharing

Posted by admin Governors Thursday, March 15th, 2012

South-south governors have disagreed with their Northern counterpart over the 13 per cent derivation, saying it is wrong to blame the insecurity in the North on the disparity of oil revenue sharing.
Governors of South-south states, who met in Calabar yesterday, described the outburst of the northern governors as “unfortunate and misplaced,” insisting that the issue to be addressed is the environmental degradation and pollution occasioned in the Niger Delta by oil exploration which has adversely affected fishing and farming.

In a communiqué issued at the end of their first meeting, shortly after the re-election of Governors Liyel Imoke and Henry Dickson, the South-south governors said it was regrettable that their colleagues in the North attempt to link the increasing insecurity in some parts of the country to the issue of 13 per cent derivation.”

They expressed regrets that instead of addressing the problems plaguing the north, the northern governors were rather diverting attention to issues that has no bearing with the insecurity in the region.
The South-south governors queried why mineral deposits in other parts of the country were not exploited, while the oil and gas reserves in the South-south are being depleted. They therefore called for the introduction of fiscal federation to enable each state develop its resources.

“The introduction of fiscal federalism and resource control will encourage each state of the federation to control its resources and develop in accordance with its capability.”
On revenue allocation, the South-south governors said they were totally in support of the review of the revenue allocation formula, noting that when reviewed, more funds would accrue to states and local governments, as well as devolve more powers and responsibilities to the constituent states for rapid development.
The Governors, however, affirmed that the second South-South Economic Summit would take place in Delta from April 26-28.

-Sunwp_posts