Oil Derivations, Subsidy and SURE-P Refunds: Nine Oil Producing States Receive N625.43bn in Two Years, N1.1trn Still Outstanding

December 2, 2022 in Latest News, Press Releases

Nine oil-producing states received a total of N625.43 billion 13 percent oil derivation, subsidy and SURE-P refunds from the Federation Account in the last two years, 2021-2022.

The states that received the refunds dating from 1999 to 2021 are Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers.

Data obtained from the Federation Account Department, Office of the Accountant General of the Federation, show that a total of 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 States also got N64.8 billion as refund of the 13 per cent derivation fund on deductions made by NNPC without payment of derivation to Oil Producing States from 1999 to December. 

The benefitting States still have an outstanding balance of N860.59 billion windfall from the refunds, which was approved by President Muhammadu Buhari. 

According to the figures, under the 13 per cent derivation fund on withdrawal from ECA without deducting derivation from 2004 to 2019, Abia State 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 State received N11.3billion, with a balance of N6.8billion, Imo State, N5.5 billion, with an outstanding sum of N3.3 billion, Ondo State, N19.4 billion with an outstanding sum of N11.7bn while Rivers State 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 per cent 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 State, N14.8 billion, Edo State, N2.2 billion, Imo State, N2.9, billion, Ondo State, N3.7 billion, and Rivers State, N12.8 billion.

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

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

Similarly, all the nine states received N4.7 billion each, totalling N42.34 billion as refunds on withdrawals for subsidy and SURE-P from 2009 to 2015. The refund, which is for all the states and local government councils, was paid on 10th November, 2022.

The Federation Account also paid N3.52billion each as refund to local government councils on withdrawals for subsidy and SURE-P from 2009 to 2015 on the same date in November.

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.

Garba Shehu

Senior Special Assistant to the President

(Media & Publicity)

December 2, 2022

Chemical explosion kills in Anambra, many injured.

Chemical explosion kills in  Anambra, many injured. 

A chemical explosion have claimed the lives of many at Ogbo Ogwu market head bridge onitsha early hours of Tuesday afternoon. 

The cause of the incident have not been clarified yet, as the authorities are still working to rescue trapped victims.

Another sad day in Imo state.

Another sad day in Imo state.

Soldiers deployed to Izombe community were on routine patrol in the area when they came under attack by armed youths.

The spokesperson for the 34 Artillery said: “I cannot tell you the casualty figure because the armed youths are still attacking our men who are taking cover in the buildings in the neighbourhood."

BREAKING: Ekweremadu, wife arrested in London over organ harvesting

Veteran Nigerian lawmaker, Senator Ike Ekweremadu, and Beatrice, his wife, have been arrested in London.

According to the Metropolitan Police, they were arrested and charged with bringing a child to the UK for organ harvesting.

The child, whose identity was not disclosed, is reportedly with the Metropolitan Police, while the Nigerian lawmaker and his wife are currently in custody pending a few hours when they would be arraigned at Uxbridge Magistrates’ Court.

In a statement, Metropolitan Police said: “A woman and a man were charged today with conspiring to arrange the travel of a child into the UK in order to harvest organs.

“The charges follow an investigation by the Metropolitan Police’s Specialist Crime team.

“[A] Beatrice Nwanneka Ekweremadu, 55 (10.9.66) of Nigeria is charged with conspiracy to arrange/facilitate travel of another person with a view to exploitation, namely organ harvesting.

“[B] Ike Ekweremadu, 60 (12.05.62) of Nigeria is charged with conspiracy to arrange/facilitate travel of another person with a view to exploitation, namely organ harvesting.

“They have both been remanded in custody and will appear at Uxbridge Magistrates’ Court later today.

“The investigation was launched after detectives were alerted to potential offences under modern slavery legislation in May 2022. A child has been safeguarded and we are working closely with partners on continued support. As criminal proceedings are now under way we will not be providing further details.”

The suspect shares the same name with former Deputy Senate President. It’s unclear if he is the one or they are related. 

Just In: Many Trapped As 21-Storey Building Collapses In Lagos

A 21-storey building has collapsed in Lagos State.

The building, which is under construction, is located at off Alexander Avenue, Gerrard Road in Ikoyi Lagos State.

THE RECORDER reports that unspecified number of construction workers are trapped in the rubble.

As of the time of filing this report, no one has been rescued.

This is as rescue effort is yet to commence, as only a team of policemen and an ambulance were seen at the location almost two hours after the incident.

No earth moving equipment has arrived the scene.

A slay queen has taken on her boyfriend

 A young lady has called his boyfriend out for breaking her heart and for her to revenge she slept with the boyfriend father in a viral video the girl could be seen telling the guy she has slept with the father as a form of revenge

Tiwa Savage $3x Video: Blackmailer Demands Money, Threatens To Release $3x Tape

The Senate, however, confirmed the appointment of Muhammad.

Also, George Ekungu from Cross River State was confirmed as Secretary of the Economic and Financial Crimes Commission.

Also confirmed by the red chamber are Luqman Muhammed (Edo); Anumba Adaeze (Enugu); Kola Adesina (Kwara) and Yahaya Muhammad (Yobe) as board members of the EFCC.

Kwari had told the senators that the nominees were thoroughly screened and found worthy of holding the positions.

The Deputy Senate President, Ovie Omo-Agege, who presided over the plenary, congratulated the nominees.