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...For a better society... Monday, July 26 2004 Vol 17 No.30 News Editorial Opinion Labour Politics Sports Features Columnists Business Money/Market Energy Alaba Market Presidency, govs meet over N400bn windfall LERE OJEDOKUN, Abuja FEDERAL Government, 36 governors and other stakeholders have commenced crucial talks on what to do with the over N400 billion excess crude revenue. A committee comprising representatives of the three tires of government, according to Gov. Abdullahi Adamu of Nasarawa State has already been set up to decide the fate of the oil windfall. The latest effort followed a disagreement between the Federal Government and some governors on whether the excess revenue be shared or not. While most governors believed that the money be shared citing the need to finance various development projects in their states, government had maintained that there was no cause to hurry in deciding what to do with it. Few weeks ago, the National Economic Intelligence Committee (NEIC), led by Prof. Ibrahim Ayagi had also recommended to the government to keep the oil revenue for future development. The committee, in its first quarterly report for the year, submitted to President Olusegun Obasanjo, cautioned that there should be no haste in sharing the revenue. Speaking with State House correspondents weekend, Gov. Adamu said final decision on the money would be reached at the on-going talks of the stakeholders. As a member of the negotiating committee, he expressed confidence that the matter would be resolved amicably. He, however, refused to give insight into the workings of the committee or the names of members just as he said there was no specific time frame given it to carry out the assignment. Adamu, who is the former chairman, Governors’ Forum, said he would not want to pre-empt the outcome of the ongoing deliberations. � 2004 @ Champion Newspapers Limited (All Right Reserved). Powered By dnetsystems.net dnet�

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