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9 oil-producing states, others receive N625.43bn derivation fund, N1.1trn still outstanding – Presidency

According to the presidency, between 1999 and 2021, nine oil-producing states will have earned a total of N625.43 billion in 13 percent oil derivation, subsidies, and SURE-P refunds from the Federation Account. The impacted states that received the reimbursements spanning from 1999 to 2021 were Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Read More…