South-South governors have formally demanded 13 per cent derivation from the Federal Government on the $1billion to be withdrawn from the Excess Crude Account to fund National Security Matters.
Speaking after a meeting, which had in attendance Bayelsa State governor, Hon Seriake Dickson; Rivers State Governor, Nyesom Wike; Delta State Governor, Senator Ifeanyi Okowa, Akwa Ibom State Governor, Udom Emmanuel and Deputy Governor of Edo State, Hon Philip Shaibu, yesterday in Port Harcourt, Chairman of the Forum, GovernorDickson, said the governors resolved to officially communicate to the appropriate authorities for the constitutional provision of 13 per cent derivation to be applied and respected.
Seriake said: “We took the collective view that with respect to the Federal Government’s effort to withdraw $1billion for national security, our position in this zone is in line with the constitutional provision on derivation.
“While we have no objection to the Federal Government spending money on security, including security of this zone, we believe the constitutional provision on 13 per cent derivation be applied and fully respected.
“We will communicate that to the appropriate authorities so that whatever amount that is withdrawn from the Excess Crude Account, being proceed of crude oil sale, is subject to the 13 per cent principle enshrined in the constitution.”