The House of Representatives is preparing to deliberate on a proposed bill that aims to raise the allocation of derivation funds for states endowed with mineral resources from a minimum of 13 percent to a target of at least 50 percent.
The proposed legislation, put forward by Awaji-Inombek Abiante, the representative for the Andoni/Opobo/Nkoro Federal Constituency in Rivers State, along with eight other co-sponsors, seeks to modify Section 162(2) of the 1999 Constitution (as amended).
The bill, which was originally set to be discussed in Wednesday’s plenary session, has been postponed until Tuesday of next week. This decision was made to ensure that members have ample time to acquire copies and engage in meaningful discussions.
Hon. Awaji said, “The intent and desire to ensure the rehabilitation and development of the damaged environment where mineral resources (liquid, gaseous, and solid) are extracted for the sustenance and development of the entire country do not seem achievable under the current 13 per cent arrangement.”
“This bill is not solely about resource control but seeks to address the various issues related to the meagre ‘not less than 13 per cent’ derivation fund payable to states from revenues derived from their environment, as provided for in Section 162(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).”