Anambra receives N268.2 million as an oil-producing state.

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

The money came from the Federation Account's mineral derivation revenue for the month of July 2022, which totaled N268,232,939.16.

The state's Finance Commissioner,

According to Ifeatu Onejeme, who confirmed the news, the feat was finally accomplished as a result of Professor Chukwuma Soludo's "massive follow up and collaborative initiatives with relevant federal government agencies."

During the administration of former Governor Willie Obiano, Anambra State was recognised as an oil producing state, according to Vanguard.

Responding to social media reports that the state received more than N300 billion from the federal government as its share of 13% oil revenue, the Commissioner insisted that the state received N268,232,939.16.

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

"In the public interest, in the spirit of full disclosure, and in accordance with our transparency principle, this press release is deemed necessary 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 Federal Republic of Nigeria's 1999 Constitution (as amended) states 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."

"On July 27, 2021, the Revenue Mobilization Allocation and Fiscal Commission officially recognised Anambra State as a petroleum-bearing and oil-producing state at its 139th Plenary Session, following a decade of hard work by industry experts from Anambra State in collaboration with previous administrations."

"From there, the current administration of Prof Charles Chukwuma Soludo took up the mantle with massive follow-up and collaborative initiatives with relevant federal government agencies to achieve the decision's eventual implementation."

"In the month of July 2022, Anambra State officially began receiving mineral derivation revenue from the Federation Account, 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).

"Ndi Anambra and the general public are therefore advised to disregard any other information circulating in social media regarding the amount of mineral derivation revenue received by Anambra State."