By Vincent Ujumadu


Anambra State government confirmed yesterday that it has received N268.2 million revenue in its new status as an oil-producing state.

The amount was from the mineral derivation revenue from the Federation Account for the month of July 2022 totalling N268,232,939.16.


The state Commissioner for Finance, Ifeatu Onejeme, who confirmed the development said the feat was finally achieved sequel to Professor Chukwuma Soludo’s “massive follow up and collaborative initiatives with relevant federal government agencies.


Vanguard recalls that Anambra State was recognized as an oil-producing state during the administration of former Governor Willie Obiano.


Apparently reacting to social media reports that the state received over N300bn from the federal government as its share of 13% oil derivation, the Commissioner insisted that what the state received was N268,232,939.16.


Onejeme said: “The attention of Anambra State government has been drawn to several false and misleading stories circulating on some social and online media platforms about the 13% Oil Mineral Derivation Revenue received by Anambra State.

READ ALSO:

“This press release is deemed necessary in the public interest, in the spirit of full disclosure and in line with our principle of transparency, to address the deliberate misinformation and provide Ndi Anambra and the general public with the correct state of affairs.


“The proviso to S.162(2) of the 1999 Constitution (as amended) of the Federal Republic of Nigeria provides that the principle of derivation shall be constantly reflected in any approved formula determined by the national assembly for revenue allocation from the Federation Account and such derivation shall not be less than 13percent of the revenue accruing to the Federation from any natural resources.”

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.