President Muhammadu Buhari on Friday confirmed approving the payments of the 13 per cent derivation funds to nine oil producing states in the country.
Governor Nyesom Wike of Rivers State revealed last month that Mr Buhari approved the payments of the funds which previous Peoples Democratic Party (PDP) administrations failed to.
Mr Wike said the 13 per cent proceeds from the oil funds accruing to the state is the source of some funds he is using to erect infrastructures in his domain.
After the remarks of the governor nicknamed Mr Project, some oil producing states denied receiving the funds.
Confirming that about N625 billion have been disbursed so far, the president in a tweet said that what was left of the total N1.7 trillion will be paid in due course.
He said he approved the payments not minding the political parties in charges of the states, listing Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers as beneficiaries.
He said aside from the 13 percent oil derivation, his regime also paid for Subsidy and SURE-P, covering the period between 1999 and 2021.
“I have approved payments totalling 1.7 Trillion Naira to 9 oil-producing States, as refunds owed them by @NigeriaGov,” the Nigerian leader tweeted. “As a matter of honour, all debts owed States must be paid, regardless of political affiliation. N625B has been paid so far; the balance will be paid in due course.
“The benefiting States are Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, Rivers; and the payments are refunds for 13 percent oil derivation, Subsidy and SURE-P, covering the period between 1999 and 2021.”
