Derivation Fund Okocha Advocates 50%

Former President of the Nigerian Bar Association (NBA), Barrister OC.J Okocha (SAN) has advocated for an increase in derivation fund from 13 to 50 per cent to all oil producing communities in the Niger Delta.

Okocha made the call, while answering questions at The Tide Roundtable, a weekly personality interview forum organised by the Rivers State Newspaper Corporation.

The Senior Advocate of Nigeria said the present derivation principle falls short of the yearning of the people and called for the adoption of fiscal federalism in the country.

He said that the introduction of fiscal federalism would check the agitation for the creation of more states in the country.

Chief Okocha also urged for a radical reform of the Electoral Act to provide for the Independent National Electoral Commission (INEC).

According to him, events in the country had shown that INEC was incapable of conducting free, fair elections in the country.

Speaking on the new version of the petroleum Bill before the National Assembly, the former NBA president said that the bill meant well for the country, adding that the problem lies with its implementation.

He also commended the state Governor, Rt Hon Chibuike Rotimi Amaechi for the several developmental projects in the state, and urged for the constitution of a monitoring team for the projects.