Vice President Arc Mohammed Namadi Sambo presided over a meeting on the resolution of the loss of the 76 oil wells by the Cross Rivers State Government in his Conference room at the State House, Abuja.
The meeting which examined the judgement of the Supreme Court on the matter and the matters arising therefrom requested the Revenue Mobilization and Fiscal Commission to make presentations as to the way forward.
Engineer Elias Mbam, Chairman Revenue Mobilization Allocation and Fiscal Commission stated that the Commission have been meeting to find ways to advise government on the need to provide succor to Cross Rivers State due to the financial discomfort it suffered by the judgement of the Supreme Court.
He further stated that the Revenue Mobilization Allocation and Fiscal Commission Act especially Section 5 Sub-section 7 stipulates that for the purposes of the Act and for avoidance of doubt, where any state of the federation suffers any loss which is outside its control, the Stabilization Funds shall be used to give succor to such a sate.
Furthermore, the meeting examined the new security challenges posed at the Bakassi Peninsula on the loss of innocent lives through the activities of some foreign bodies and noted that as the Green Tree Agreement is nearing expiration, measures need to be to be taken to address such security challenges. The Vice President directed that a detailed report with relevant evidence be provided to enable government act decisively.
Present at the meeting were the Governors of Cross Rivers and Akwa-Ibom states, the Chairman Revenue Mobilization and Fiscal Commission, the Director-General National Boundary Commission and other top government officials.