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Yoruba delegates reject Confab special committee’s decision on derivation fund

By News Express on 10/07/2014

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The Yoruba delegation at the 2014 National Conference has dissociated itself from the report of the special committee set up on Tuesday to resolve the impasse on derivation – that is, what percentage of revenue should go the areas from which natural resources are derived.

The report presented yesterday during plenary by Prof. Ibrahim Gambari, proposed an increase in derivation from 13 per cent to 18 per cent to the oil bearing states. It also proposed 5 per cent first line charge for the development of mineral resources and another 5 per cent National Invention Fund in Boko Haram devastated areas in the North East, as well as other areas affected in North-Central and North-West.

Conference delegates are scheduled to vote on the proposals today and on the Land Use Act.

However, unwilling to wait till the voting to make its stand known, Yoruba delegates late yesterday issued a statement through the Secretary of the South-West Delegation, Dr. Kunle Olajide, saying: “The Yoruba delegates, arising from the caucus meeting, rejected the report stating that the report gave a wrong impression of what the intervention fund was set to achieve. The fund is aimed to serve the collective interest of the country and not a sectional interest as presented by Pro. Gambari.

“South West delegates are, however, view Gambari’s projection amount to depletion of the federation account through nebulous funds to promote insurgency in the country. It also aimed at legalising the impoverishment of non-oil bearing states in South-West, South-East and South-South. As these states, neither benefit from derivation nor the so-called intervention fund.”

•Photo shows National Conference Chairman, Justice Idris Kutigi.

Source News Express

Posted 10/07/2014 12:13:30 PM

 

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