Devolution agreement for Northwest Territories announcement expected today

An announcement is expected Monday from Prime Minister Stephen Harper about the final devolution agreement between the Northwest Territories and the federal government. 

According to the CBC, the devolution agreement will see the territory gain control over its lands and resources which is currently owned by Ottawa. 

The Northwest Territories would be able to make final decisions when it comes to developing oil, gas, and mines as well as other resources. It would also be allowed to keep all the resource revenue that companies pay to develop such resources. 

Five out of the seven aboriginal groups living in the Northwest Territories agreed to sign the agreement, which will result in some of the resource revenue going back into their communities. 

The announcement will take place in Yellowknife, around 12 pm local time.