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Reps propose upward review of derivation fund from 13 to 20 per cent Reps propose upward review of derivation fund from 13 to 20 per cent
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The House of Representatives will on resumption from the Easter recess, commence debate on the general principle of a bill which seeks to increase 13 per cent derivation fund to 20 per cent.
The private member bill was sponsored by Hon Kingsley Chima.
According to the ‘Explanatory Memorandum’, the proposed bill “seeks to alter Section 162(2) of the Constitution of the Federal Republic of Nigeria, 1999 as amended, in order to cure the inherent imbalance and insufficiency of fund and development-driven agitations based on the revenue from natural resources.”