13% DERIVATION FUNDS: We’ve disbursed N1.98 trillion to oil-producing states in 7 years – FG reveals
The Federal Government has disbursed a total of N1.98 trillion as share of the 13% oil derivation backlog paid to oil-producing states.
This was disclosed by the Minister of Finance, Budget, and National budget Zainab Ahmed, on Thursday at the sixth edition of the President Muhammadu Buhari administration scorecard.
She stated that the amount was paid in seven years, despite some of the funds preceding the current administration.
She said, “One of the key functions of the Ministry of Finance Budget and National Planning is to support the states.
“We wouldn’t have been able to grow consistently without enabling the states to grow because it is a federation.
“Mr. President has been very uniquely generous in his support to states. I can say no president has provided the level of support provided to the states of the Federation.
“He understands that the federating units need to work together as one to achieve the targets that he has set for the country. So everybody goes to support sub-national governments.
“In seven years, we have disbursed N1.98 trillion in funds to oil-producing states.”
The 13% derivation fund had been a controversial issue after comments by Rivers State Governor, Nyesom Wike, alleging that the oil-producing states have refused to disclose their share of the 13% derivation arrears paid by the Federal Government from 1999 to all the Niger Delta States.