The House of Representatives is gearing up to consider a bill that would catapult the derivation fund from a paltry 13% to a staggering 50%. It seems the lawmakers have finally realized that their compatriots are sitting on a goldmine and are eager to share the wealth.
The bill, spearheaded by Awaji-Inombek Abiante, the representative for the Andoni/Opobo/Nkoro Federal Constituency in Rivers State, has garnered support from eight other lawmakers. The aim? To amend Section 162(2) of the 1999 Constitution, which currently stipulates that states receive a measly 13% of revenue derived from their mineral resources. Abiante argues that this outdated percentage not only fails to reflect the reality of Nigeria’s resource wealth but also misrepresents the spirit of pre-independence negotiations.
During the discussions, Abiante stressed that this amendment is not just a fleeting concern for today, but a necessity for the future. “While some may feel unaffected now, what about the future?” he questioned, invoking a sense of urgency.
After all, every Nigerian state is brimming with natural resources that could potentially transform the nation’s economy. The Federal Government’s newfound focus on solid minerals, away from its oil addiction, makes this amendment even more crucial.
The environmental degradation that comes with resource exploitation. Abiante didn’t shy away from highlighting the catastrophic effects, particularly in the Niger Delta, where oil spills are as common as the morning sun. These spills not only wreak havoc on the environment but also obliterate livelihoods, destroy farmland, and pollute water sources. “The ripple effects of lost livelihoods, such as hunger, lead to other social vices and organized crime,” he lamented. So, when the government says they care about the people, perhaps they should take a good look at how these resource extraction practices are impacting lives.
And what’s the solution, you might ask? According to Abiante, the current arrangement encourages illegal mining and exploitation of natural resources. With just 13% in the pot, states have little incentive to protect their resources or invest in their communities.
Originally slated for discussion during the Wednesday plenary session, the bill was pushed back to the following Tuesday to give lawmakers ample time to review the proposal. After all, it’s not every day you get the chance to potentially increase funding by 37%. Abiante insists that this is more than just a question of resource control; it’s about the fundamental rights of the states to benefit from their own riches and to ensure the rehabilitation of the environments devastated by mining activities.
The House’s move to consider this bill is a long-overdue step toward acknowledging the vast wealth Nigeria has been sitting on while many of its citizens struggle.
