Law | News

Oil producing state: Anambra receives maiden 13% derivation fund

1 min read

Crude oil

The prolonged controversy about oil yielding/producing status of Anambra State has at last now laid to rest permanently.

The State Government has just confirmed receipt of Two hundred and sixty eight million, two hundred and thirty two thousand, nine hundred and thirty-nine Naira (N268,232,939), being her first share of the 13% derivation fund as an oil-producing state in the country.

The state’s oil production status was confirmed by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) exactly one year ago on August, 24, 2021, vide a letter ref- RMC/O&G/48/VOL/I/55, signed by the RMAFC Secretary, M.B Shehu.

Consequently the state became formally enrolled to the 13% derivation fund elitist chart in Nigeria.

The cheering news of the receipt of the fund was confirmed by the Chief Press Secretary to Gov Chukwuma Soludo, Mr. Christian Aburime. He also confirmed that it was N268,232,939
that was received, not any of the figures earlier being erroneously being circulated in the media space by uninformed persons.

According to him, “while it is true that Anambra State recieved its first 13% derivation fund as an oil-producing state this July; it is however untrue that the amount is N373 billion, as is being peddled in some media platforms.

Shared monthly, the 13 per cent derivation fund comes from the Federation Account to oil-producing communities through the state governments, as enshrined in section 162(2)of the nation’s Constitution.

The news was received with cheers all over the state.

Leave a Reply

Your email address will not be published.