The Federal Government may activate Section 5 (7) of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Act to draw fund for Cross River State.
The idea was mooted at the meeting on the resolution of the loss of the 76 oil wells by the Cross River State Government presided over by the Vice-President, Namadi Sambo.
Present at the meeting were Governors Liyel Imoke (Cross River) and Godswill Akpabio (Akwa Ibom), the RMAFC Chairman, the Director-General, National Boundary Commission (NBC), Mohammed Ahmed and other government officials.
The meeting, which was held at the vice president Conference room at the State House, was at the instance of President Goodluck Jonathan.
The meeting, which examined the judgment of the Supreme Court on the matter and the matters arising therefrom requested the RMAFC to suggest the way forward.
A statement by Sambo’s media aide Sani Umar said: “The agencies have been meeting to find ways to advise the Federal Government on the need to provide succour to Cross River State due to the financial discomfort it suffered by the judgment of the Supreme Court.
“The section stipulates that for the purposes of the Act and for avoidance of doubt, where any state suffers any loss which is outside its control, the Stabilisation Fund shall be used to give succor to such a state.”
On the issue of Bakassi, Akpabio, who spoke to reporters at the end of the meeting, said challenges of insecurity in the region, the idea of humanitarian challenge and the aftermath of the ceding of Bakassi were discussed to find a peaceful way to accommodate all parties so that there will be peace in the region.
On the issue of Nigeria buying over the peininsula, Akpabio said: “Anything that will give us an advantage of an additional territory I will be glad to support it.
“It is also an alternative if the price is not too high if we can afford it why not? We can buy back because, Bakassi is too dear to our heart.
“For instance, in the case of Akwa Ibom, we are still groaning because it is too close to us.
“It is 40 minutes from one of our local councils. We really like Bakassi to come back to Nigeria.”
