Exclude derivation fund from $1bn ECA deduction, Dickson tells FG.
21 Dec, 2017. \\ Michael Eniola

The Governor of Bayelsa State, Mr. Seriake Dickson, has called on the Federal Government to exclude the 13 per cent derivation fund accruable to oil producing states from the controversial $1bn to be deducted from the Excess Crude Account to fight insurgency in the North-East.

The governor demanded that the derivation component of the $1bn should be deducted and sent to the various oil producing states to prevent them from making double contributions to the security fund.

In a statement signed by the Commissioner for Information and Orientation, Mr. Daniel Iworiso-Markson, on Wednesday, the governor argued that the implication of the withdrawal of the $1bn from the ECA was that the oil producing states would be making double contributions to the security fund.

He stressed that the oil producing states would be contributing not only their statutory allocations like other states, but also their 13 per cent derivation constitutionally designed to address special circumstances, including security occasioned by the hazards of oil production.

The governor stated that he had discussed the issue with Vice President Yemi Osinbajo, who is also the Chairman of the National Economic Council.

The governor said, “Our position generally has been that leaders should collaborate on issues of national security and the economy. On these matters, there should be no partisanship or showmanship, because these issues touch on the core of our nation and the individual well-being of everybody.

“Our position is that the 13 per cent derivation element be deducted and sent to the states. Not doing so means that the oil producing states will be contributing from both ends: we will be contributing our statutory allocations like every other state, and then the 13 per cent derivation, which is meant to address special circumstances as oil producing states, including security challenges.”

The Editor.

Web administrator

Comments.
Other Stories You May Like.