Oil producing states squandered over N6trn from 13% derivative in 13 years –Report ripplesnigeria.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ripplesnigeria.com Daily Mail and Mail on Sunday newspapers.
13% Derivation: Eight states receive N6trn in 11 years Report
On
By Michael Eboh
Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates.
The report, obtained, following its release, at a webinar in Abuja, to key officers of the National Assembly and aides to the President and Minister of Niger Delta Affairs, listed the states as Abia, Akwa-Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers.
In the report titled: ‘Impact of the 13% Derivation Fund in the Niger Delta’, ACIOE Associates stated that in the 11-year period, Abia, Akwa Ibom, Bayelsa, Delta, and Edo states received N55.87 billion, N1.33 trillion, N1.388 trillion, N1.16 trillion and N118.85 billion respectively, while Imo, Ondo and Rivers states received N1.28 trillion, N189.277 billion and N1.057 trillion respe
…Clarify Derivation Act to stop mismanagement, FG told
By Michael Eboh
Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates.
The report, obtained yesterday, following its release, at a webinar in Abuja, to key officers of the National Assembly and aides to the president and minister of Niger Delta Affairs, listed the states as Abia, Akwa-Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers.
In the report titled: ‘Impact of the 13% Derivation Fund in the Niger Delta’, ACIOE Associates stated that in the 11-year period, Abia, Akwa Ibom, Bayelsa, Delta, and Edo states received N55.87 billion, N1.33 trillion, N1.388 trillion, N1.16 trillion and N118.85 billion respectively, while Imo, Ondo and Rivers States received N1.28 trillion, N189.277 billion and N1.057 trillion respect