The governors of the six South-South states, have called for the restructuring and unbundling of the Federal Government’s existing revenue sharing formula.

They said that the “shedding of weight” at the federal level would give states in the federation more powers and responsibilities.

The governors added that more funds would be needed by the states and local governments for developmental programmes.

In a communiqué at the end of the second South-South Economic Summit in Asaba, Delta, last Saturday, the governors said that the new structure would leave the Federal Government to handle issues of security.

The communiqué was signed by Governors Seriake Dickson, Chibuike Amechi, Godswill Akpabio, Liyel Imoke, Adams Oshiomohle and Emmanuel Uduaghan of Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta, respectively.

In the 13-point communiqué, read by Mr Joe Keshi, Director-General of the BRACED Commission, the governors urged the Federal Government to urgently address the problems of power and energy in the country.

According to the communiqué, the federation should be restructured and unbundled including the review of the current revenue allocation formula, to give more powers, responsibilities and funding to the states and LGAs as centres of growth.

It said that the nascent governance structure in the region should incorporate private sector and other non-state actors with a view to creating favourable policy, legal and regulatory environment.

“This will stimulate greater private sector participation in the development initiatives of the region,’’ it said.

The communiqué also called for the review of current policies and regulations on power and gas to enable the states generate, transmit and distribute power to complement the efforts of the Federal Government.

The communiqué said that the summit accepted the development of a Niger Delta Energy Corridor, noting that the project had the potentials for connecting the people, industry and natural resources and creating jobs.

It said that the summit would accelerate the implementation of agriculture development initiatives as the region’s priority focal area to complement the Federal Government’s transformation agenda on Agriculture.

The summit, it stated, also planned to develop integrated transport facilities in the region, through a balanced development of rail, roads, waterways and airport facilities.

According to the communiqué, the region would also partner the Federal Government and the private sector in the development of the Lagos-Calabar railway lines project.

It called for urgent completion of the East-West highway.

The communiqué added that the BRACED Commission had been directed to translate the recommendations of the summit into a measurable and achievable plan of action and to engage the appropriate stakeholders.

It expressed appreciation to everyone who participated in the programme and urged the governors to continue to show their exemplary leadership and commitment to good governance.

Meanwhile, no fewer than 6,000 people participated in the South-South Economic Summit which ended on Saturday in Asaba.

Governor Emmanuel Uduaghan, said that the number of participants recorded at the summit was 300 per cent more than the organising committee’s projection of 2,000 persons.

On hitches over registration of participants which led to a stampede and made most persons to attend without identification tags for the period, he attributed it to refusal of people to register online ahead of the summit.