ANAMBRA STATE TO BENEFIT FROM 13% DERIVATION FUND, ENROLLS IN OIL-PRODUCING STATES

ANAMBRA STATE TO BENEFIT FROM 13% DERIVATION FUND, ENROLLS IN OIL-PRODUCING STATES

 

ANAMBRA STATE TO BENEFIT FROM 13% DERIVATION FUND, ENROLLS IN OIL-PRODUCING STATES



Officially, Anambra state has entered the train of Oil Producing States in Nigeria, as it will soon begin to profit from the 13%  Derivation account.

The development is a result of the letter of Revenue Mobilisation Allocation And Fiscal Commission’s approval of Gov. Willie Obiano’s proposal for a rightful percentage of income accruing to the country from oil and gas production activities in Anambra state.
 
By the authorization letter via Mr M.B. Shehu, its secretary, and communicated to Governor Obiano, the Commission, endorsed the attribution of eleven oil wells entirely to Anambra state. It also endorsed attribution of Anambra stream 1, 2, and 3 oil wells, to be shared on an equal per cent basis among Anambra and Kogi states, awaiting the final tracing of boundaries of the two states.

Eleven oil wells completely associated with Anambra state, includes; Alo- One oil well, Ogbu- One oil well, and Nzam-One oil well.   the rest are Enyie 1, 2, 3, and 4 oil wells, and of course, Ameshi 1, 2, 3 and 4 oil wells.


Income Mobilisation and Fiscal Commission’s authorization was at its 139th plenary, which took place on 27 July 2021. It said the 13%  derivation will commence when the said income from the operations of the asserted oil wells begins to contribute to the federation account.

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