By Emma Amaize
Ijaw Youth Council, IYC, yesterday, demanded increase in the derivation to oil producing states in Niger Delta from 13 to 50 percent, as it were in the 60s.
Reacting to the proposal to rejig the revenue sharing formula, IYC president, Pereotubo Oweilaemi, said, “As the Federal Government is proposing to review the revenue sharing formula in the country, IYC while commending the government for the gesture, demands for an upward review of the 13 per cent derivation to the oil producing states.
“We demand that the revenue committee should be guided to what it used to be in the 60s. In the 60, the revenue sharing formula was 50 percent to the producing states; 20 percent to the central government, while 30 percent was kept in a pool from which distributions were made to all regions in a proportion of their population size.
“Let us revert back to this sharing formula being practiced in the 60s before the civil war. We are certain that an upward review of the meager 13 percent derivation to 50 percent will aggressively address the perennial oil crisis in the Niger Delta.
“It will stabilise the oil industry thereby boosting our daily productions. This is an opportunity for President Muhammadu Buhari to write his name in the annals of golden history for resolving the Niger Delta conundrum,” IYC said.
It recalled that even the Governor Nasir el-Rufai-led APC Committee on True Federalism recommended 100 percent derivation to the oil producing states, adding, “If the government cannot implement the el-Rufai committee’s recommendations, then we suggest that the country should go back to the sanctity of the original covenant entered into by our founding fathers in the 1960 and 1963 Constitutions.”