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President Muhammadu Buhari has revealed that he accepted a complete cost of N1.7 trillion to 9 oil-producing states as 13% oil derivation subsidy and SURE-P refunds owed them by the federal authorities.
It additionally acknowledged that these 9 states have been paid N625.43 billion as 13% derivation fund, subsidy, and SURE-P refunds from the federation account within the final 2 years.
This disclosure is contained in an announcement on Friday, December 2, on President Muhammadu Buhari’s official Twitter account, the place he listed the states to have obtained the refunds courting from 1999 to 2021 together with Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers.
In accordance with stories, Abia State obtained N1.1billion, Akwa-Ibom – N15bn, Bayelsa – N1.6 billion, Cross River – 432 million, Delta – N14.8 billion, Edo – N2.2 billion, Imo – N2.9billion, Ondo – N3.7billion and Rivers – N12.8 billion.
Accredited for 9 oil-producing states: President Muhammadu Buhari’s tweet reads,
- ‘’I’ve accepted funds totaling N1.7 trillion to 9 oil-producing states as refunds owed them by the Nigerian Authorities. As a matter of honor, all money owed owed to states should be paid, no matter political affiliation. N625B has been paid to this point; the steadiness might be paid sooner or later.
- ‘’The benefiting states are Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers; and the funds are refunds for 13 p.c oil derivation, Subsidy, and SURE-P, protecting the interval between 1999 and 2021.’’
Mode of cost: The presidential spokesman, Garba Shehu, in an announcement famous that the states have been paid in 8 installments between October 2, 2021, and January 11, 2022, whereas the ninth to twelfth installments are nonetheless excellent.
He recalled knowledge obtained from the Federation Account Division, Workplace of the Accountant Basic of the Federation, which it stated confirmed {that a} whole of N477.2 billion was launched to the 9 states as a refund of the 13% derivation fund on withdrawal from Extra Crude Account (ECA), with out deducting derivation from 2004 to 2019, leaving an excellent steadiness of N287.04 billion.
Shehu stated states additionally obtained N64.8 billion as a refund of the 13% derivation fund on deductions made by Nigeria Nationwide Petroleum Firm Restricted with out cost of derivation to Oil Producing states from 1999.
He additional acknowledged that the benefitting states nonetheless have an excellent steadiness of N860.59 billion from the refunds, which he stated was accepted by President Muhammadu Buhari.
In case you missed it: Recall that about 2 weeks in the past, the Rivers State governor, Nyesom Wike, challenged his counterparts within the Niger Delta zone to account for the massive sums of monies obtained by them as a backlog for the 13% oil derivation since 1999, which was accepted and paid by President Muhammadu Buhari.
Wike stated that whereas he can level to the tasks executed by his administration with the monies in Rivers, a few of his colleagues can not present any proof.
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