Former Commonwealth Secretary General, Mr Emeka Anyaoku has called for a total over haul of the revenue allocation structure to allow for peace and better development.
He believes that the best formula is to have 20 per cent of the mineral go to the federal government, while 15 per cent is reserved for the communities and the remaining 65 per cent shared equally amongst the six geo-political zones.
He said “Nigeria’s system of governance should be restructured into a federation of six regions based on the six geo political regions of the country, with a substantial part of the power now exercised by the centre, devolved to the regions to enable each region develop at its own pace” he said.
He further said “the revenue from the God given resources should be allocated in the following manner; first with the considerable reduced responsibilities of the centre, the federal government should receive something between 20 and 23 percent” while “the areas where the minerals are mined anything between 15 and 17 per cent as compensation for the environmental damage they suffer”.
He also noted that “the remaining, about 60 percent, should be shared equally amongst the six regions”.
He maintained that under this structure, the existing states should be retained as development areas within the new regions without their present governance paraphernalia.