13% Derivation Refund: FG Validates Edo State’s Figures says Nehikhare, reassures of accountability, transparency under Obaseki

1 Dec 2022

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The attention of the Edo State Government has been drawn to the State House Press Release titled: ‘Oil Derivation, Subsidy And Sure-P Refunds: Nine Oil Producing States Receive N625.43 Billion In Two Years; N1.1 Trn Still Outstanding’ issued by Garba Shehu, the Senior Special Assistant to the President on Media & Publicity and dated December 2, 2022.

The Edo State Government has been vindicated by the figures released by the federal government as the figures contained therein with respect to the 13 percent oil derivation refund,  further validate the figures that we released on November 23, 2022.

We hereby reassure Edo people that under the watch of Governor Godwin Obaseki, accountability will remain our watchword and all resources accruable to Edo State will be prudently and transparently utilized for the good of the majority of Edo people.

The State House Press Release has put to rest the irresponsible pastime of political detractors and unprogressive elements who resorted to conjuring up very ridiculous and absurd figures in their desperation to dubiously market themselves in the political space in this electioneering campaign season.

For the records, the State House Press Release said: “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 installments this year, with the remaining 17 installments 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.”

Recall that on Wednesday, November 23, 2022, the Commissioner for Finance, Budget, Economic Planning and Development, Mr. Joseph Eboigbe, told journalists that Edo State ’s share of the one trillion naira 13 percent derivation refund that is due the oil producing States in Nigeria is N28 billion, and so far, N2.1 billion has been received.

According to Eboigbe, “Edo State’s share of that figure was N28 billion naira. A small figure out of the N1 trillion that was what got to us.

“So we have received three quarterly releases so far, N700 million, N700 Million, N700 million, totaling N2.1billion. That is what has come into the State’s coffers and it is verifiable in the bank, and the office of the Accountant General has the records.

“Our share was N28 billion, the net is to be distributed over five years, quarterly, that will be 20 quarterly installmental releases, three have come so far, each has been N700 million, N700 million, N700 million and how that money was spent again, we have the records for anybody that wishes to see.”

We stand by the figures that we released, which have been validated by the State House, and Edo people have no reason to worry as we are committed to finish stronger.

Chris Osa Nehikhare

Hon. Commissioner for Communication and Orientation.