The Presidency has released more details of oil derivation refunds made to the states on Friday, December 02, 2022.
BREAKING: Akwa Ibom, Delta get largest share of Niger Delta oil refunds
Shehu revealed that the nine oil-producing states got a total of N625.43 billion...
About the refund: The need for a refund came amidst growing discontent in Niger Delta states that some government officials had misused the oil derivation refunds in the region,
Big reveal: The details provided by the Presidency show that Akwa Ibom and Delta States received the largest refunds from the federal government.
Garba Shehu, the presidential spokesperson, disclosed this in a statement made available to newsmen.
How much derivation was released: Shehu revealed that the nine oil-producing states got a total of N625.43 billion, 13 per cent oil derivation, subsidy and SURE-P refunds from the Federation Account between 2021 and 2022.
He said the date of the refund was from 1999 to 2021.
How much each state got: “According to the figures, under the 13 per cent derivation fund on withdrawal from ECA without deducting derivation from 2004 to 2019, Abia State received N4.8 billion with an outstanding sum of N2.8 billion, Akwa-Ibom received N128 billion with an outstanding sum of N77 billion, Bayelsa with N92.2bn, leaving an outstanding of N55 billion.
“Cross River got a refund N1.3 billion with a balance N792 million, Delta State received N110 billion, leaving a balance of N66.2 billion, Edo State received N11.3billion, with a balance of N6.8billion, Imo State, N5.5 billion, with an outstanding sum of N3.3 billion, Ondo State, N19.4 billion with an outstanding sum of N11.7bn while Rivers State was paid 103.6 billion, with an outstanding balance of N62.3 billion.”
How they were paid: The statement indicated that States were further paid in eight instalments between the months of October and January 2022.
“Under this category, Abia State received N1.1 billion, Akwa-Ibom, N15 billion, Bayelsa, N11.6 billion, Cross River, N432 million, Delta State, N14.8 billion, Edo State, N2.2 billion, Imo State, N2.9, billion, Ondo State, N3.7 billion, and Rivers State, N12.8 billion,” it said.
What you should know: Recall that Governor Nyesom Wike of Rivers State had showered praise on President Muhammadu Buhari for releasing the 13 per cent oil derivation to the Niger delta States.
What Wike did with his funds: Wike further said he spent the funds on multi-billion projects in his State, challenging his colleagues to explain how they used theirs.
Following the revelations by Wike, many Nigerians raised questions about how governors from the oil-producing states utilised the funds in their respective states.
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