Oil producing: Anambra receives N268.2m as first tranche of 13% derivation fund

The government of Professor Chukwuma Soludo has engaged a remarkable gear of ascendancy as Anambra State receives its first 13 percent derivation cash from the Federal government.

Perhaps the development lays to rest the back-and-forth arguments about oil yielding/producing status of Anambra State.

Reports say that Anambra State government, for the month of July, received Two Hundred and Sixty-Eight Million, Two Hundred and Thirty-Two Thousand, Nine Hundred and Thirty-Nine Naira (N268,232,939), being its first share of the 13% derivation fund as an oil-producing State in the country.

The State’s oil production status was confirmed by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) nearly one year ago on August, 24, 2021, vide a letter ref- RMC/O&G/48/VOL/I/55, signed by the RMAFC Secretary, M.B Shehu.

Consequently the State became formally enrolled to the 13% derivation fund elitist chart in Nigeria.

The 13 per cent derivation fund comes from the Federation Account to oil-producing communities through the State governments, as enshrined in section 162(2) of the Constitution.

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