Wednesday, July 30, 2008
By Thompson Ayodele and Olusegun Sotola
A few weeks ago, some Nigerian oil companies proposed to the government the need to distribute certain percentage of their profits directly to the inhabitants of the area. This no doubt represents an innovative approach towards solving the problem in the region. Under this arrangement, rather than relying on oil revenue, government would have to on a large scale rely on normal tax policy instruments. The advantage of this is that it will insulate the system from corruption and mismanagement…..