Nigeria: Kogi Declared Oil Producing State.
By Joseph Edegbo :
The Revenue Mobilisation Allocation anf Fiscal Commission has declared Kogi in central Nigeria, an Oil Producing State.
The approval to this effect was given at the Commission’s 139th Plenary session held 27th July 2021 with the attribution of Oda River oil 1 to the State.
A letter signed by the Secretary to the Commission, MB Shehu conveyed the approval to Governor Yahaya Bello.
The Commission further approved attribution of Anambra River 1, 2, and 3 oil wells on a 50- 50 per cent basis pending the final delineation of the boundary between the 2 States.
Accordingly, the Commission affirmed, Kogi State will start to benefit from the 13 per cent Derivation fund as soon as proceeds from the operation in Oda River 1 Oil well or Anambra River 1, 2 or 3 well starts contributing revenue into the Federation Account.