Lagos not paid derivation fund as oil producing state since 2018

Mr Olalere Odusote, Lagos State Commissioner for Energy and Mineral Resources, on Friday said the state had not received any derivation fund since it became an oil producing state in 2018.

Lagos state governor, Babajide Sanwo-Olu. [Twitter/@jidesanwoolu]

The theme of the conference is: “Youths Engagement in Oil and Gas Producing Area As a Panacea to Community Development”.

According to him, Yinka Folawiyo Petroleum Co. started oil exploration in Badagry communities two years ago (2018) before the present administration.

Up till now, nobody in Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has calculated the amount due as derivation fund to Lagos State.

“From 2018 till date, I can tell you categorically that Lagos State has not received a single dime from the fund,” he said.

The commissioner promised to take the issue of multiple checkpoints along Agbara-Seme expressway to Gov. Mr Babajide Sanwo-Olu for necessary action.

He, however, assured the youths of Badagry that the state government would complete the Mile 2 Okoko section of the expressway in the next two years.

“We are going to do everything that we have promised so that Badagry will benefit from being a host community.

“Beyond that, we are going to see that Badagry gets what is due to it from the state.

“We will continue to deliver our promise to Badagry people and will develop the infrastructure that we promised.

“We expect the people to take advantage of the state skill acquisition programme to improve themselves and contribute to the economy,” he said.

Odusote appealed to the youths to allow Folawiyo petroleum carry out the Corporate Social Responsibility (CRS) as it had started.

He further said that the company launched Aje Micro Credit Scheme for the people of Badagry communities to get loan.

Now, the company has set up Micro Credit Scheme to give out soft loans to the people of nine communities with zero interest.

“I don’t see any problem with the oil company, I think it has been a good citizen and I am sure it will fulfill these promises,” he said.

NAN reports that first oil was achieved in the Aje field offshore Lagos in May 2016, 20 years after it was discovered.

Yinka Folawiyo Petroleum Company Limited, a wholly owned indigenous firm, is the operator of the Oil Mining Lease 113, where the field is located.

Other partners are Pan Petroleum Aje Limited (a subsidiary of Panoro Energy), New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, and PR Oil & Gas Nigeria Limited.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

No postponement - PDP vows to proceed with presidential primaries

No postponement - PDP vows to proceed with presidential primaries

PDP primary heavily monetised, Hayatu-Deen laments as he quits presidential race

PDP primary heavily monetised, Hayatu-Deen laments as he quits presidential race

Why Bola Tinubu & Atiku Abubakar cannot be defeated in their parties

Why Bola Tinubu & Atiku Abubakar cannot be defeated in their parties

PDP: Atiku, Saraki, Tambuwal fail to reach consensus; Wike's chances brighter

PDP: Atiku, Saraki, Tambuwal fail to reach consensus; Wike's chances brighter

APC: Election cancelled, party chairman arrested in Lagos for alleged illegality

APC: Election cancelled, party chairman arrested in Lagos for alleged illegality

Katsina APC Governorship aspirant accepts defeat in good faith

Katsina APC Governorship aspirant accepts defeat in good faith

Another PDP presidential aspirant, Hayatu-Deen withdraws from race

Another PDP presidential aspirant, Hayatu-Deen withdraws from race

APC Primaries: Faleke wins Ikeja Federal Constituency seat for 4th term

APC Primaries: Faleke wins Ikeja Federal Constituency seat for 4th term

Senator Folarin beats 2019 flag bearer, others to Oyo APC governorship ticket

Senator Folarin beats 2019 flag bearer, others to Oyo APC governorship ticket