Just In: Oil discovered in Anambra as 13 percent request approved

By Timi Black

Anambra state has now been accorded the status of an oil producing state, by the landmark discovery of oil in the state.

Following this jolly discovery of oil, with explorable quantity, the state is now automatically penned down to benefit the 13percent derivation other oil states are benefiting from the federation account.

This was sequel to the Revenue Mobilisation Allocation and Fiscal Commission’s approval of the State governor’s request.

The request was for due share of revenue accruing to the nation from oil and gas production activities in Anambra State.

The revenue Commission upon receiving the request, had sent an approval letter through the Secretary, Mr. M. B. Shehu,to Governor Obiano of Anambra state.

It stated that the commission had approved the attribution of 11 oil wells to Anambra State.

It also approved the attribution of Anambra River One, Two and Three oil wells, to be shared on 50-50 per cent basis between Anambra and Kogi states, pending the final delineation of boundaries of the two states.

The 11 oil wells attributed to Anambra State are Nzam-One oil well, Alo-One oil well and Ogbu-One oil well.

Others are Ameshi One, Two, Three and Four oil wells, as well as Enyie One, Two, Three and Four oil wells.

The Revenue Mobilisation and Fiscal Commission’s approval was made at its 139th plenary held on July 27.

The letter added the 13 per cent derivation will take effect when the revenue from the operations of the oil wells starts contributing to the federation account.