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Finally, Anambra listed as oil-producing state, derivation percent released

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Jubilation as the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) reportedly assigned Anambra as a full-fledged oil producing state but stated it would solely profit from the 13 percent derivation as soon as it begins the business production of crude oil.

A confirming letter of authorization by RMAFC endorsed by its secretary, M. B. Shehu, and communicated to Governor Willie Obiano, noted that six oil wells have been credited to the state and that their production would allow the state income as granted other oil-producing states.

The oil acreages include Ogbu-1l; Ameshi 1, 2, 3, 4; Nzam -1; Alo-1; Enyie 1, 2, 3,4 and River 1, 2 and 3 oil wells.

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The state read: “Anambra State will start to profit from the 13 percent derivation fund as soon as proceeds from the operation in the above-named oil wells begin contributing revenue into the federation account.

The letter continued:

“In addition, there are River 1, 2 and three oil wells with proceeds to be shared equally between Anambra and Kogi States until the boundary dispute between the two states is resolved,” it added.

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