BREAKING: Protests in Confab over Nigeria’s revenue derivation formula

National Conference in plenary

The zonal leaders recommended an increase from the current 13 per cent to 18 per cent for oil producing states.

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Some delegates at the National Conference on Wednesday afternoon protested a recommendation by zonal leaders on the derivation formula.

The zonal leaders recommended an increase from the current 13 per cent to 18 per cent for oil producing states, 5 per cent revenue allocation for solid minerals development, and another 5 per cent for the North East which is ravaged by the Boko Haram insurgency.

The zonal leaders’ committee joined by representatives of the women society, civil society, labour, and youth presented its report on the floor of the Confab on Wednesday.

The Conference adjourned before its normal closing time to enable it debate the report on Thursday.

The South-South, South East, and South West delegates rejected the recommendations and vowed to vote against it on Thursday.

Details later…


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