Tuesday, July 27, 2021

2019: I may let Niger-Delta states take 100% control of oil revenues — Atiku

Must read

- Advertisement -

Former Vice President and Peoples Democratic Party’s presidential candidate, Atiku Abubakar has said he is willing to let Nigeria’s oil producing states have absolute control of crude oil revenues from their domains.

Mr Abubakar, in an interview with The Africa Report, published on Wednesday, said, “I don’t mind giving even 100% (to Niger Delta), but I would tax those states to maintain the federal government.”

The presidential candidate decried the current federal laws that only allow 13 percent derivation for states in the Niger-Delta, where Nigeria’s sweet crude is extracted.

READ ALSO:   NASS siege: Atiku reacts, warns Buhari, Osinbajo against anarchy

“Even during the First Republic there was this derivation sharing between revenues and resour­ces, or between the regions and the federal government.

READ ALSO:   Atiku attacks EFCC, says anti-graft agency now enforcement arm of APC

“So I think we could have a middle course. It would be unfair to ask me for specifics; that will depend on negotiations,” he noted.

According to him, the country’s constitution which recommends a federal system but implements a unitary one, should be urgently reviewed.

Mr Abubakar noted that the constitution review should be backed with a sovereign document that would engender a more peaceful and economically viable nation.

READ ALSO:   Atiku attacks EFCC, says anti-graft agency now enforcement arm of APC

“Oil revenues still account for over 80 percent of the Nigerian government’s revenues as of 2017, according to the National Bureau of Statistics, despite efforts towards economic diversification.

“It could be difficult to achieve reduction of federal government’s share of oil revenues to only taxes paid by about nine oil-producing states while floundering agriculture and services sector,” Mr Abubakar regretted.

READ ALSO:   65 roads billed for construction in 2017 budget
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
READ ALSO:   65 roads billed for construction in 2017 budget

- Advertisement -

Latest article

- Advertisement -
cosgrove