21.3 C
Abuja
Thursday, July 18, 2024

Presidency lists nine states that recieved 13% derivation refunds

Must read

The Presidency has published a list of nine oil-producing states in the country that received a total of N625.43 billion on 13 percent oil derivation, subsidy and SURE-P refunds from the federation account between 2021 and 2022.

The list was made known by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a statement in Abuja on Friday.

In the statement, Shehu listed the states that benefited from the refunds as Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers States

The presidential spokesperson said it was pertinent to publish the list of the States following a challenge thrown by Rivers Governor Nyesom Wike to governors in the Niger Delta region to account for the funds they recieved.

Giving a breakdown of the states that recieved the refunds, Shehu, citing data obtained from the Office of the Accountant-General of the Federation, said N477.2 billion was released to the nine states as refund of the 13 percent derivation fund on withdrawal from excess crude account (ECA) without deducting derivation from 2004 to 2019, leaving an outstanding balance of N287.04 billion.

“The three largest benefitting States were Akwa Ibom (N1.6billion), Delta State (N1.4billion) and Rivers State (N1.32billion),” Shehu said.

“According to the figures, under the 13 percent derivation fund on withdrawal from ECA without deducting derivation from 2004 to 2019, Abia received N4.8 billion with outstanding sum of N2.8 billion, Akwa-Ibom received N128 billion with 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 received N11.3 billion, with a balance of N6.8 billion, Imo, N5.5 billion, with an outstanding sum of N3.3 billion.

“Ondo got N19.4 billion with an outstanding sum of N11.7 billion while Rivers was paid 103.6 billion, with an outstanding balance of N62.3 billion.

“The states were paid in eight instalments between October 2, 2021 and January 11, 2022, while the ninth to twelfth instalments are still outstanding.

“On the 13 percent derivation fund on deductions made by NNPC without payment of derivation, the nine oil producing states were paid in three instalments this year, with the remaining 17 instalments outstanding.

“Under this category, Abia State received N1.1 billion, Akwa-Ibom, N15 billion, Bayelsa, N11.6 billion, Cross River, N432 million, Delta N14.8 billion, Edo N2.2 billion, Imo N2.9 billion, Ondo State N3.7 billion, and Rivers N12.8 billion.

“Meanwhile, the benefitting States shared N9.2 billion in three instalments in April, August and November 2022 as refunds on the 13 percent derivation exchange rate differential on withdrawal from the ECA.

“President Buhari considers it a matter of honour and decency that debts owed to states or anyone for that matter be repaid, and in time without regards to their partisan political affiliations.

“The president will continue to render equal service to all the states of the federation and an acknowledgment of this by Governor Nyesom Wike of Rivers State and the others is not out of place.

“The refunds to the oil producing states will continue,” the statement said.

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article