Akwa Ibom gets N160bn from 13% oil derivation arrears in 2021 Expects to receive N100bn in 2023
Port Harcourt – The Akwa Ibom State received N160 billion in 2021 as its share of the 13 percent crude oil derivation arrears released to oil producing states by President Muhammadu Buhari, the state government has confirmed.
Recall that the state government recently denied misappropriating its share of the 13 percent derivation arrears after citizens demanded for accountability, following the disclosure by Rivers State Governor Nyesom Wike that President Buhari released the 13 percent derivation deductions arrears from 1999 to date to oil producing states.
Following more agitations from concerned citizens, the Akwa Ibom State Commissioner for Finance, Dr Nsikan Linus Nkan, disclosed the amount of funds the state had received, saying the state was projected to receive N41.4 billion in 2022 but only N26 billion had so far been received.
Nkan, maintained that the administration of Governor Udom Emmanuel has been judicious in the application of 13 percent derivation arrears and other incomes accrued to the state.
"It has become pertinent to respond to issues relating to the refund of the 13 percent derivation arrears to oil producing states, of which Akwa Ibom is one.
"The agitation for the refund of the arrears which were deducted from the earnings due to the oil-bearing states was undertaken by the affected Governors, directly and through their officers at the Federation Accounts Allocation Committee FAAC, which agreed with the very detailed submission and calculated the sums accruing to the states.
"However, due to the large amount involved and the inability of the