Sun, 24 Nov 2024 // 15:02 (GMT +1)
Promoting Good Governance and Citizens' Access

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BILL IN BRIEF: Upward Review of Derivation Formula

This Bill seeks to alter the Constitution to provide for an upward review of the derivation formula and include solid minerals and hydro power in the derivation principle. The derivation principle states that if natural resources in any State is exploited and it yields revenue, then a certain percentage of that revenue should be given back to that State while the rest will accrue to the Federation Account to be enjoyed by other States.

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