The Pan-Niger Delta Forum (PANDEF), a coalition of leaders from Nigeria’s oil-rich southern regions, has demanded a 50% allocation of crude oil revenue for oil-producing states from the Federation Account Allocation Committee (FAAC). According to reports in the Nigerian media, this demand is aimed at addressing environmental degradation, health hazards, and developmental challenges associated with oil and gas exploration and production.
This call by PANDEF comes amidst ongoing discussions over the sharing formula for oil revenues in Nigeria. The current formula allocates 13% of the total revenue to oil-producing states, a figure that PANDEF believes is insufficient given the environmental and social impacts of oil extraction in these areas.
PANDEF’s demand has not been met with immediate response from the federal government or FAAC, but it underscores the growing agitation for a fairer sharing formula in Nigeria’s oil-rich regions. The demand also highlights the need for a more equitable distribution of the country’s oil wealth, a contentious issue that has long been a source of tension between the federal government and oil-producing states.
By
