Sponsored
News

Anambra Receives First 13% Derivation Fund As Oil-Producing State

Sponsored
Sponsored

IZUNNA OKAFOR 

Anambra State Government has confirmed the receipt of her first share of the 13% derivation in her new status as an oil-producing state in Nigeria.
Recall that the state was confirmed an oil-producing state by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in August, 24, 2021, through a letter with the reference RMC/O&G/48/VOL/I/55, and signed by the RMAFC Secretary, M.B Shehu, which automatically entitles the state to the 13 per cent derivation fund.
Shared monthly, the 13 per cent derivation fund comes from the Federation Account to oil-producing communities through the state governments, as enshrined in Section 162, Sub-section 2 of the Nigerian Constitution.
Anambra State, however, got its own first-time share of the derivation fund this July, 2022 —a development that has been greeted by wide commendations from people of the state to the APGA-led government in the state.
Confirming the news of the receipt, the Chief Press Secretary to Governor Chukwuma Soludo, Mr. Christian Aburime, when contacted, also confirmed the exact amount received by the state, as against the wrong figure being peddled around by some individuals.
According to him, while it is true that Anambra State recieved its first 13% derivation fund as an oil-producing state this July; it is however, untrue that the amount is N373 billion, as is being peddled in some media platforms.
Mr. Aburime further confirmed that the correct amount and first ever 13% derivation recieved by Anambra State is N268,232,939.
Sponsored
Alinnor Arinze

Recent Posts

ADC FELLOWS Takes Nigeria’s Democracy Concerns to Washington, Raises Alarm Over Alleged Victimisation of Opposition Ahead of Osun Election

ADC FELLOWS, a political movement committed to the development, protection and advancement of democracy in…

5 minutes ago

International Youth Day: Ikemba Idemili Celebrates Nigerian Youths, Calls For Greater Investment

BY EMMY YOUNG  Anambra-born billionaire businessman and philanthropist, High Chief Hamilton Ezeonu, Ikemba Idemili, has…

2 hours ago

Man, 27, Arraigned Over Alleged N50m TV & Cash Theft At Alaba

CYRIACUS IZUEKWE A 27-year-old man, Ovie Michael, was on Tuesday arraigned before an Ojo Magistrate…

7 hours ago

Women’s Wing Of ABER Hails Dr. Piriye Kiyaramo As Visionary Leading Africa’s Blue Economy Transformation

The Head of the Women’s Wing of Africa Blue Economy Roundtable - ABER, Barr. Sophie…

7 hours ago

CEO Branding As Organisation’s Touchstone And Gemstone

UGOCHUKWU UGWUANYI  People are usually skeptical of organisations - a disposition that lingers until they’ve…

7 hours ago

Man, 28, Sent To Prison For Using Broken Plate To Stab Victim’s Eye During Brawl

CYRIACUS IZUEKWE A 28-year-old man, Idris Kelani, has been remanded in prison following his arraignment…

8 hours ago
Sponsored