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Oil Producing States Received N377.89billion in Q1 2022

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The eight oil-producing states in Nigeria received a sum of N377.93 billion as 13% oil derivation fund in the first half of 2022.

According to the National Bureau of Statistics, the amount received in the review period is 46.9% higher than the N257.2 billion shared in the second half of 2021.

The 13% oil derivation fund shared by the communities has increased significantly despite the non-remittance of funds by the Nigerian National Petroleum Corporation to the Federation Account.

Written by: Helen Obih

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