President Muhammad Buhari has approved the payment of N 1.7 trillion to nine oil-producing states as refunds owed them by the Federal Government.
A figure of N625 billion has so far been paid to the states in question as the president assured that the remaining balance would be paid to them.
“I have approved payments totalling 1.7 Trillion Naira to 9 oil-producing States,as refunds owed them by @NigeriaGov. 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.“
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