Oil Producing States Should Keep 100% Revenue – Northern Elder

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April 9, 2014 2:11 PM

Oil producing states may soon have cause to rejoice if statements made by Lamido Adamawa, Alhaji Barkindo Mustapha are anything to go by

States with oil resources should be allowed to take all revenues accruing from oil exploration in their various territories, says Lamido Adamawa, Alhaji Barkindo Mustapha.

The traditional ruler dropped the bombshell as part of his remarks on President Goodluck Jonathan inaugural speech at the ongoing National Conference.

“In this case, let me also jump the gun and say that states which don’t have oil should allow states which have oil to take a hundred percent oil revenue states which don’t have oil should take a hundred percent land resource," Lamido said.

In what seems like a angry response to resource control arguments by some delegates, Lamido argued that his call for oil-producing states to own all the revenues for their resources implies that all other states should also own and control the use of land in their territory.

“That means, all lands should revert to those states and anybody who wants to use the land or the structures on the land must pay rent to those states or the traditional owners of the land. For example the FCT,” he said.

Though Lamido’s call was well received by delegates from the oil rich region that has since been fighting for control of its resources, it has been received with mixed feelings.

Nigeria’s oil revenues account for about 90% of monies that accrue to the federation account and is a major contributor to the country’s GDP.

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