The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has refused to list Lagos State among beneficiaries of the 13 per cent oil derivation fund, some six years after the state became oil-producing state.

A source at the RMAFC said Lagos State has not been added to the list of states benefiting from the 13 per cent derivation “due to some irreconcilable differences” with the state.

Two states- Anambra and Kogi, which are now oil-producing states, benefit from the 13 per cent derivation fund. They joined Delta, Akwa Ibom, Bayelsa, Rivers, Edo, Ondo, Imo and Abia.

Lagos State became an oil-producing state when crude oil was found in commercial quantities in 2016. Yinka Folawiyo Petroleum Company Limited, an indigenous firm and operator of OML 113 offshore Lagos in 2016 announced the commencement of production of crude oil from the field. Other partners are New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, Pan Petroleum (Panoro Energy) Aje Limited and PR Oil and Gas Nigeria Limited.

But Lagos State cannot join states receiving 13 per cent derivation without clearance from RMAFC.

A source at RMAFC said the state has not started benefiting from 13 per cent derivation fund because the government was playing a “hide and seek game”.

RMAFC is disputing information provided by the government in respect of the state’s position on oil production as an oil producing state.

Responsive Vertical
“They are making profit as oil-producing state but don’t want to come clean. Their case is being investigated by the oil and gas committee of the commission, and we are waiting for the outcome of the committee’s investigation,” the source said.

Besides the statutory monthly allocation that goes to each state as share of revenue allocation from the federation account, oil producing states get an extra 13 per cent derivation fund. The extra fund enshrined in the constitution is meant to take care of effects of degradation suffered by oil-producing communities.

Figures from StatiSense showed that in 2021, the 13 per cent derivation proceeds was shared as follows: Delta State, N141.9 billion; Akwa Ibom State, N91.2 billion; Bayelsa State N87.2 billion; Rivers State N83.1 billion; Edo State N17.1 billion; Ondo State N11.5 billion; Imo State N9.98 billion and Abia State N4.78 billion.

An RMAFC source told The Nation that the “legal unit of RMAFC has confirmed that Kogi and Anambra states are now receive 13 per cent oil derivation”.

Obiano had earlier written to RMAFC to request the state’s “due share of revenue accruing to the nation from oil and gas production activities in Anambra State”.

RMAFC, in granting the approval highlighted that Anambra and Kogi states would start benefiting from the 13 per cent derivation fund “once the proceeds from the oil wells are contributing to the Federation Account”.

The approval letter addressed to Obiano and signed by the RMAFC’ Secretary Mr M.B. Shehu, conveyed the Commission’s “attribution of 11 oil wells wholly to Anambra state”.

The commission also “approved the attribution of Anambra River One, Two, and Three oil wells, to be shared equally (50-50 per cent basis) between Anambra and Kogi states, pending the final delineation of boundaries of the two states”.

The 11 oil wells wholly attributed to Anambra State included Ameshi One, Two, Three and Four oil wells, and Enyie One, Two, Three, and Four oil wells. Others are Nzam-One oil well, Alo- One oil well, and Ogbu- One oil well.

However, RMAFC added a caveat, saying “for the states to benefit from the 13 per cent derivation fund, the proceeds from the operations of the oil wells should be contributed to the Federation Account”.

EWEDURIANS WILL NOT LIKE THIS NEWS

Lol we'll control our oil by ourself. We're not Niger deltans

Hide and seek kor

OBALOLA55:


EWEDURIANS WILL NOT LIKE THIS NEWS

Not everyone is jobless like you Sha

It is not that the oil is even adding shit to their pockets.....

So just keep clowning up and down for this forum

OBALOLA55:


EWEDURIANS WILL NOT LIKE THIS NEWS

Are u done reading your fake report written by nyamiri ?
Mumu plenty for nairaland.... No source at all

We no be mumu like nyamiri

LASG intensifies oil committee campaign
’Femi Asu

Lagos, which joined the league of oil-producing states in the country in 2016, received a total of N131.94m as its share of the 13 per cent derivation fund from January 2018 to October 2019; data from the National Bureau of Statistics have shown.

Oil-producing states are entitled to 13 per cent derivation fund from the Federation Account. Others are Abia, Akwa Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers.

First oil was achieved in the Aje field offshore Lagos in May 2016, 20 years after it was discovered.



January to October this year, Lagos received derivation fund of N1.92m in March this year, while it got N130.01m in March 2018, according to the NBS data.

Yinka Folawiyo Petroleum Company Limited, a wholly owned indigenous firm, is the operator of the Oil Mining Lease113, where the field is located.

Other partners are Pan Petroleum Aje Limited (a subsidiary of Panoro Energy), New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, and PR Oil & Gas Nigeria Limited (the holder of MX Oil’s investment in the field).

See them above me pretending and shifting goalposts.

we know the gist Sha


Anambra Amaka!!.

walefresh3:

Are u done reading your fake report written by nyamiri ?
Mumu plenty for nairaland.... No source at all

MY BOY BAWO NI

OBALOLA55:
MY BOY BAWO NI

Report u posted was published by the nation news paper... Does the report indicated that Lagos is not an oil producing state ?

No...

Lagos still produce oil in large quantities



LASG intensifies oil committee campaign
’Femi Asu

Lagos, which joined the league of oil-producing states in the country in 2016, received a total of N131.94m as its share of the 13 per cent derivation fund from January 2018 to October 2019; data from the National Bureau of Statistics have shown.

Oil-producing states are entitled to 13 per cent derivation fund from the Federation Account. Others are Abia, Akwa Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers.

First oil was achieved in the Aje field offshore Lagos in May 2016, 20 years after it was discovered.



January to October this year, Lagos received derivation fund of N1.92m in March this year, while it got N130.01m in March 2018, according to the NBS data.

Yinka Folawiyo Petroleum Company Limited, a wholly owned indigenous firm, is the operator of the Oil Mining Lease113, where the field is located.

Other partners are Pan Petroleum Aje Limited (a subsidiary of Panoro Energy), New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, and PR Oil & Gas Nigeria Limited (the holder of MX Oil’s investment in the field).

OBALOLA55:
MY BOY BAWO NI

Who be your boy... U better mind your speech

walefresh3:

Who be your boy... U better mind your speech

I NOR GET TIME TODAY, TRY AGAIN TOMORROW

walefresh3:

Are u done reading your fake report written by nyamiri ?
Mumu plenty for nairaland.... No source at all

Of course, it’s fake news since it’s not bad news.

I’m sure you wouldn’t have tagged it fake news if it was talking about IPOB ‘eating’ people.

You must be pained that your “southeast is a barren land” propaganda is falling like a pack of cards in your very eyes.

Who God has blessed, no man can curse.

Igbos are too blessed to be cursed!

Shalom!

Anambra got 13% of Profit made from their Oil

Lagos State Government and Folawiyo Oil gets 60% of the total oil production through NNPC Joint Venture agreement


Now who is wiser?! The man getting 60% of his entire Oil and remitting 40% to FG and still getting largest allocation monthly

Or the one who waits for NNPC to sell his Oil, and pay him 13% of the total profit made after deducting tax, logistics and cost of production



.

Lagos oil is being stolen directly by dem dem...if you don't gerrit forgerabourit.

Because Lagos has no oil.
That was a 2016 government propaganda at time that IPOB activities were gathering momentum.
What about the ones they discovered in the North? Nobody is talking about it again after wasting billions.
They just wanted to continue deceiving the people that they have been stealing from that they too have oil.nothing more.

Penguin2:


Of course, it’s fake news since it’s not bad news.

I’m sure you wouldn’t have tagged it fake news if it was talking about IPOB ‘eating’ people.

You must be pained that your “southeast is a barren land” propaganda is falling like a pack of cards in your very eyes.

Who God has blessed, no man can curse.

Igbos are too blessed to be cursed!

Shalom!

Keepshot bro....
Over that barren land with inconsequential Crude oil..,

We should not be celebrating the addition of any South East state into this nonsense Oil producing states whatever. It's sickening to think that we are happy to line up and be given stipends from our resources by those that have no single functional oil well in their lands. Irrespective of this addition, Kano, Kaduna, Sokoto and Borno states will still get more allocations from oil sold than Imo and Abia states, because of cooked census figures organized by northern military officers..

Rugaria:
We should not be celebrating the addition of any South East state into this nonsense Oil producing states whatever. It's sickening to think that we are happy to line up and be given stipends from our resources by those that have no single functional oil well in their lands. Irrespective of this addition, Kano, Kaduna, Sokoto and Borno states will still get more allocations from oil sold than Imo and Abia states, because of cooked census figures organized by northern military officers..

People are just very ignorant . I know lagos will want to outsmart fedral government on this. Sharperly indegenious company are the major in charge.
They say lagos is playing hide and seek lol. Lagos might end up getting more revenue from their oil reserve and keep publishing wrong figures.
There is crude oil in the lagos lagoon which is closer to Niger delta region but we decided to go drill faraway badagry