TheCable

The Anambra government says it received N268.2 million as its first share of the 13 percent derivation fund.

Ifeatu Onejeme, the state commissioner for finance, said this in a statement issued on Thursday.

The 13 percent derivation fund comes from the federation revenue to oil-producing communities through the state governments as enshrined in section 162, sub-section 2 of the Nigerian Constitution.

TheCable had reported that Anambra officially joined the list of oil-producing states in Nigeria in July 2021.

Onojeme said the statement became necessary to clear the air on the discordant figures being peddled in the media about the amount received by the state from the derivation fund.

“The attention of Anambra state government has been drawn by well-meaning Ndi Anambra and fellow Nigerians to several false and misleading stories circulating on some social and online media platforms about the 13% oil mineral derivation revenue received by the state,” the statement reads.

“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 thirteen percent of the revenue accruing to the federation directly from any natural resources.

“Following a decade of hard work by industry experts from Anambra state in collaboration with past administrations, Anambra State was officially recognised as a petroleum-bearing and oil-producing State on July 27, 2021, by the Revenue Mobilization Allocation and Fiscal Commission at its 139th plenary session held on that date.

“The current administration of Prof Charles Chukwuma Soludo, CFR, took up the mantle from there with massive follow-up and collaborative initiatives with relevant federal government Agencies to achieve the eventual implementation of the decision.

“Anambra state officially started receiving mineral derivation revenue from the federation account in July 2022 with the first net receipt of N268,232,939.16 (Two Hundred and Sixty-Eight Million, Two Hundred and Thirty-Two Thousand Nine Hundred and Thirty-Nine Naira and Sixteen Kobo only).”

He urged the people of Anambra and the general public to disregard any other information about the amount of mineral derivation revenue received by the state.