The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said he is willing to let Nigeria’s oil producing states have absolute control of crude oil revenues from their domains, but added he is reluctant to immediately implement such policies at this stage of the country’s development.
The PDP candidate told The Africa Report that the federating units once had considerable control of their resources, unlike the current federal laws that only allow 13 per cent derivation for states in the Niger Delta.
Atiku acknowledged that the appropriate sharing formula might be difficult to say at this point, adding that it would depend on ‘negotiations’.
He recommended a limited role for the federal government in appropriating crude revenues.
Nigerian states “can get more because in the First Republic the regions had 50/50. I don’t mind giving even 100 per cent, but I would tax those states to maintain the federal government,” Atiku said.
The former vice president however, recognised that this is model “not advisable at this stage of our development.”
“Even during the First Republic there was this derivation sharing between revenues and resources, or between the regions and the federal government. So, I think we could have a middle course. It would be unfair to ask me for specifics; that will depend on negotiations,” he added.