By Emmanuel Aziken, Political Editor, Clifford Ndujihe, Charles Kumolu & Dapo Akinrefon
LAGOS — Agitation for a review of the revenue formula by northern elite has been welcomed as an opportunity for a review of the fiscal terms of the nation’s federalism, the Majority Leader of the Senate and leader of the Senate South-South caucus Senator Victor Ndoma-Egba (SAN) has said.

His assertion nonetheless, the Arewa Consultative Forum, ACF said yesterday that it would press for a review of the present revenue sharing formula on the basis of what it claimed was the increasing financial disparity between the north and the south. The northern body asserted that the Niger Delta states have lost their leverage on oil revenue, given the fact that 78% of the nation’s oil revenues were now obtained offshore.

The assertion was, however, flayed yesterday by South-South and prominent leaders many of whom welcomed the renewed debate on the revenue formula as an opportunity to redress what they claim as the inadequacy of funds to the oil rich region.

“It is something that could go either way because if you recall, historically there has been this agitation by the South-South that 13% is inadequate. So, for me the time has come to take a totally new look at the fiscal terms of our federalism,” Senator Ndoma-Egba told Vanguard yesterday.

“We have to review it because what we are using now has its origins not in negotiations but from the days of the military and since then we have been doing incremental adjustments here and there. We must go back to the basis and negotiate the fiscal terms of our union,” the Senate Leader added.

Spokesman of the ACF, Mr. Anthony Sanni in his  reaction asserted that the revenue formula ought to be altered on the fact of the increasing disparity in economic fortunes between the North an d the South.

Bridging the gap he said was not just a matter of economic wisdom but a matter of political expediency. He observed that the same view is being championed by world economic institutions with interest in Nigeria.

“78% of the exploration is in the sea, how is the sea polluting their environment,” Sani asked yesterday. “These days, those who are beaten are the ones who are crying. How do you justify the fact that most of the banks are owned by the people from the South-South? How do you justify the situation where most of the media houses are owned by people from the South-South? You think that they are the hardest workers,” he asked.

Responding to the development yesterday, former Chairman of the Nigeria Economic Summit Group (NESG), Prof Anya O. Anya, said the Northern governors’ clamour was reflective of a desperate effort of a failed leadership which superintended the affairs of country for 38 years out of her 51 years existence as an independent nation.

Anya said his membership of the Post-election violence panel opened his eyes to what had been happening in the North.

According to him, what the Northern governors were asking were some of the problems they created during the 38 years the north held the leadership of the country.

“They brought the problem to being. They should start interrogating their leaders on what they did to alleviate poverty when they ruled the country,” he said and faulted moves by some Northern leaders to restructure or reconstruct the history of the country.

Indeed, Elder statesman and stalwart of the National Democratic Coalition (NADECO), Chief Ayo Adebanjo, said it would amount to injustice to cut the derivation proceeds to the oil producing areas. If anything, it should it should be upped to 50 per cent instead of 13 per cent.

“I am not from the South-South but I believe in strong derivation for the South-South. If you look at the terrain of the South-South, how much can you give them to develop the place? In those days of the regions, the regions enjoyed 50 per cent derivation. Now, there is oil in South-South why stop derivation. You can’t get justice like that,” he said.

ACF spokesman, however, faulted the argument that the nation should return to the practice of a 50% derivation principle. According to him the mistake of the past if indeed it was a mistake should not be brought forward at this time.

Also responding last night, President of the Ijaw Youth Congress, IYC Miabiye Kuromiema urged northern leaders to activate the region’s productive capacities instead of suppressing the quest of the Niger Delta.

“If they want revenue, they should go and activate the productive capacity of the north, nobody says you cannot get revenue, you should go and produce. It is what you produce that you get.”  The youths particularly of the north should just reject these kinds of people who are lazy, indolent and parasitic to a large extent”.

In its reaction, the Niger Delta Nationalities Forum described the demand by the north as a wake up call on the Niger Delta