Vice-President Namadi Sambo on Wednesday 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 ruling on the matter requested the Revenue Mobilization and Fiscal Commission (RMFC) to make presentations as to the way forward.
The Supreme Court in July conferred the ownership of 76 oil wells along the Atlantic Ocean, to Akwa Ibom, ruling that Cross River State had lost its claim to being a littoral state.
While making the presentation, the chairman RMFC stated that the commission has been meeting to find ways to advise government on the need to provide succour to Cross-rivers state due to the financial discomfort it suffered by the judgement of the Supreme Court.
He further stated that Section 5 (7) RMFC Act 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 succour 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.