Uproar in National Conference over revenue derivation formula

The National Conference again on Thursday failed to agree on the revenue sharing formula for the nation, forcing it to adjourn suddenly to calm tempers among the 492 delegates. The Conference adjourned more than one hour ahead of its closing time of 3.30 p.m. Its chairman, Idris Kutigi, however, announced that he would meet with the 50 “wise men” of the Conference as well as the chairmen and deputy

chairmen of the 20 Standing Committees on Friday morning to resolve the stand-off. The wise men had earlier in the life of the Confab intervened on some issues, including the modalities for voting. The Conference had similarly adjourned abruptly on Thursday after a report prepared by 18 leaders of the six geo-political zones and representatives of women, youth and labour movement.
The report of the group called, National Conference Consensus Group, read by a member, Ibrahim Gambari, recommended the payment of 18 per cent of the revenue accruing to the Federation Account directly to oil-producing states; five per cent for solid minerals development and five percent for stabilisation and rehabilitation of terrorism and insurgent-ravaged north east and the other two zones in the north. However, the southern delegates kicked against the recommendation for the rehabilitation of the three northern zones with some of them saying it could encourage insurgency and violence in the country.