Ibok Essien Calls for 25% Oil Derivation, Questions Obasanjo’s Shift
Former senator Ibok Essien has urged the Revenue Mobilisation, Allocation and Fiscal Commission to raise the derivation allocation for oil-producing states from 13% to 25%. He said oil-producing communities need more funding to address pollution, ecological damage and hardship caused by decades of oil exploration. He also questioned former President Olusegun Obasanjo’s recent support for a higher derivation formula, noting that similar demands were resisted during Obasanjo’s time in office. Essien recalled that Niger Delta delegates sought 25% derivation at the Political Reform Conference, while the conference recommended 17%. He said neither proposal was implemented and urged the National Assembly and other authorities to pursue a fairer revenue-sharing formula for all resource-producing communities.
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