Nine oil-producing states netted N625.43bn in two years: Presidency

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The presidency has revealed that nine oil-producing states received a 13 per cent diversion totaling N625.43 billion, SURE-P subsidies and rebates from the federation account in the past two years.

In a statement, the Principal Special Assistant to the President for Media and Publicity, Mr. Garba Shehu, listed the states that received the rebates from 1999 to 2021 to include Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo , Ondo and Rios.

He stated that Abia State received N1.1 billion, Akwa-Ibom – N15 billion; Bayelsa: 1.6 trillion naira; Cross River – N432 million; and Delta: 14.8 billion naira.

The others included Edo, which received 2.2 billion naira; IMO: N2.9 trillion; Ondo: 3.7 trillion naira and Rivers: 12.8 trillion naira.

The presidential spokesman pointed out that the states were paid in eight facilities between October 2, 2021 and January 11, 2022, with facilities from ninth to 12 pending payment.

He recalled data obtained from the Federation Accounts Department, Federation Accountant General’s Office, which he said showed that a total of N477.2 billion was released to the nine states as reimbursement from the 13 per cent bypass fund. upon withdrawing from the Excess Crude Oil Account (ECA), without deducting the bypass from 2004 to 2019, leaving an outstanding balance of N287.04 billion.

According to Mr. Shehu, the states also received N64.8 billion as reimbursement of 13 per cent bypass fund from deductions made by Nigeria National Petroleum Company (NNPC) Limited without bypass payment to oil-producing states since 1999. until December.

He further stated that the beneficiary states still have an outstanding balance of N860.59 billion from the repayments, which he said was approved by President Muhammadu Buhari.

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