Anambra has officially joined Nigeria’s list of oil-producing states, and it will soon begin to benefit from the 13% Derivation Fund.
Governor Willie Obiano’s appeal for a fair share of revenue coming to the nation from oil and gas production activities in Anambra state was approved by the Revenue Mobilisation Allocation And Fiscal Commission.
The Commission approved the allocation of eleven oil wells entirely to Anambra state, according to a letter sent to Governor Obiano by its secretary, Mr M.B. Shehu.
It also approved the attribution of the Anambra River One, Two, and Three oil wells, which will be divided 50/50 between Anambra and Kogi states pending the final demarcation of the two states’ borders.
Nzam-One oil well, Alo-One oil well, and Ogbu-One oil well are the eleven oil wells that are entirely credited to Anambra state. The oil wells Ameshi One, Two, Three, and Four, as well as Enyie One, Two, Three, and Four, are among the others.
The Revenue Mobilisation and Fiscal Commission gave its approval at its 139th plenary session on July 27, 2021.
The 13 percent deduction will take effect when revenue from the operations of the oil wells begins to flow into the federation account, according to the statement.