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    Anambra State Finally Joins Oil Producing States, To Benefit From 13% Derivation Fund

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Anambra state has finally joined the league of Oil Producing States in Nigeria, as it will soon start to benefit from the thirteen percent Derivation fund.

    This is sequel to the Revenue Mobilisation Allocation And Fiscal Commission’s approval of Governor Willie Obiano’s request for due share of revenue accruing to the nation from oil and gas production activities in Anambra state.

    According to the approval letter through its secretary, Mr M.B. Shehu, and addressed to Governor Obiano, the Commission, approved the attribution of eleven oil wells wholly to Anambra state. It also approved attribution of Anambra River One, Two, and Three oil wells, to be shared on fifty- fifty percent basis between Anambra and Kogi states, pending the final delineation of boundaries of the two states.

    The eleven oil wells wholly attributed to Anambra state, are; Nzam-One oil well, Alo- One oil well, and Ogbu- One oil well. Others are Ameshi One, Two, Three and Four oil wells, as well as Enyie One, Two, Three, and Four oil wells.

    Revenue Mobilisation and Fiscal Commission’s approval was at its 139th plenary session, held on twenty seventh July, 2021.

    It said the 13 percent derivation will take effect when the said revenue from the operations of the said oil wells starts contributing into the federation account.

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