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BRACED Commission Calls For Revenue Allocation Formula To Be Reviewed
13 Mar 2012

BRACED Commission Calls For Revenue Allocation Formula To Be Reviewed

The South-South Governors of the BRACED commission, comprising Governors from Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta states, has called for the revenue allocation formula to be reviewed to give more funds to states and local governments, as well as devolve more powers and responsibilities to the constituent states for rapid development. They have equally reaffirmed their support for the position of Nigerian Governors’ forum.

The Governors made this remarks at the first ordinary session of the BRACED commission Governors’ council 2012, held yesterday at the Cross River State Government House, Calabar, and was presided over by the chairman of the commission, Senator Liyel Imoke, Governor of Cross-river State.

In view of the prevailing situation in the country, the Governors expressed deep concern at the level of insecurity in some parts of the country, appealing to the Federal Government to continue to explore all avenues to end the indiscriminate and unnecessary destruction of lives and property.

On the matter of derivation and revenue sharing formula, the Governors regretted the attempt to link the increasing insecurity in parts of the country to the issue of 13 percent derivation and considered it unfortunate and misplaced.

The Governors insisted that on the contrary, the issue to be addressed is the environmental degradation and pollution in the Niger Delta occasioned by oil exploitation which has adversely affected fishing and farming activities, this makes it imperative for an upward review of the derivation principle and introduction of fiscal federalism.

They questioned the rationale of not exploiting other mineral deposits in different parts of the country while depleting the oil and gas reserves of the South-South. They expressed strong conviction that the introduction of fiscal federalism and resource control will encourage each state of the federation to control its resources and develop such in accordance with its capability.

The meeting which is the first to be held after the Governorship elections in Cross River and Bayelsa States respectively congratulated Senator Liyel Imoke (CON), on his re-election as Governor of the state for the second term and Hon. Henry Seriake Dickson on his election as Governor of Bayelsa State.

The Governors then listened to two presentations on the briefing of the 2nd south-south economic summit, which they affirmed that the summit would now take place from April 26th to 28th, 2012, and noted the efforts of the BRACED commission and that of the Delta state sub-committee for the summit. They extended an invitation to members of the private sector especially from the south-south to attend the summit, which would focus on development, investment and security.

Secondly, on the presentation on power and energy, which the Governors noted, there is development in the sector. The Governors then commended the Director-General for the direction and activities undertaken so far by the BRACED commission and requested him to ensure that credible programme was developed before the end of the year.

The meeting was also briefed by the Director General of the BRACED commission, Ambassador Joe Keshi (OON), on the activities of the commission since the last Governors meeting in Uyo, Akwa Ibom State held on November 19, 2011.

Briefing the Governors, the DG highlighted the meetings held with the commissioners, development partners and other stake holders in the states on the following subject areas to brainstorm on modalities for actualising the regions’ mission and objectives in sectors like education, agriculture, and industrialisation of the region in collaboration with the UNIDO and NDDC, infrastructural development and the multi-model for transportation in the region.

Present at the meeting were the Governors, Hon. Henry Seriake Dickson of Bayelsa state, Hon. Chibuike Rotimi Amaechi (CON) of Rivers State, Dr. Godswill Akpabio (CON) of Akwa Ibom State, Senator Liyel Imoke (CON) of Cross River State, Adams Oshiomole (CON) of Edo State, Dr. Emmanuel Uduaghan of Delta State and Amb. Joe Keshi (OON), the Director General.





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