Akwa Ibom Government Reveals Amount Received So Far As Oil Derivation Backlog

Akwa Ibom Government Reveals Amount Received So Far As Oil Derivation Backlog

The Akwa Ibom State Government has declared only N186 billion as the state’s share of the 13% oil derivation backlog paid to the country’s oil-producing states.

Linus Nkan, the state Commissioner for Finance, made the announcement during a press conference in Uyo, the state capital.

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The reaction follows comments by Rivers State Governor Nyesom Wike, who claimed that the oil-producing states have refused to disclose their share of the 13% derivation arrears paid by the Federal Government to all Niger Delta states since 1999.

The Akwa Ibom State Government responded by stating that the state government has only received N186 billion so far.

In Uyo, Nkan presented the government’s position to journalists. He explained that, while the Federation Account Allocation Committee (FAAC) agreed with the very detailed submission and calculated the sums due to the states, it was agreed that the payments be made in quarterly tranches over a five-year period due to the large amount involved and the federal government’s inability to pay all at once.

Flanked by the Commissioners for Information, Ini Ememobong, his counterpart in the Ministry of Works, Eno Ibanga, and the Chief Press Secretary to the Governor, Ekerete Udoh, Nkan assured the people of the administration’s avowed commitment to ensure the judicious and justifiable application of scarce resources to meet people’s needs.

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