Edo govt: N2.1bn oil derivative funds too small to announce

Edo govt: N2.1bn oil derivative funds too small to announce


The Edo State government has said the sum of N2.1 billion allocated to the State from the 13 per cent derivative funds for oil producing States by the federal government since 1999, were too small to be made public when compared to over N3 billion Internationally Generated Revenue (IGR) of the State.

The Rivers State governor, Nyesom Wike’s who called on Nigerians demand accountability from Governors in other benefitting states including Akwa Ibom, Delta, Bayelsa, Ondo, Edo and Cross on how they spent their share while inaugurating some projects that he funded with oil revenue.

Speaking on on ITV Radio Pidgin English programme tagged Man Around Town’ in Benin, Friday, Mr Crusoe Osagie, the Special Adviser to the State governor, Godwin Obaseki on Media Projects, admitted that Edo government has received N700 million each in three tranches (September, October and November) out of the total sum of N28 billion, which will be fully paid in a period of five years.

He said, “I had explained that the money came in September, October and November — N700 million each. And you said why didn’t the government announce it? I am saying that the money is too small to be announced. N700 million came to Edo State per quarter (four months). We earn over N3 billion per month from IGR. We do not do live Broadcast to announce that”.

The Government spokesman who described the fanfare that heralds the commissioning of infrastructural projects Governor Nyesom Wike as deceitful, said, “somebody is using live Broadcast to waste Rivers money on 10 television stations in the Country to showcase one project, does that mean that they are working? Got to Rivers and check if they are really working. Weather is affecting everybody”, Mr Osagie said.

When asked to explain why the State government delayed the disclosure of the N2.1 billion, the Governor’s aide said, “N700 million in a quarter is not a huge sum for Edo State because the monthly revenue we generate as a Government is N3.5 billion. So, why should we begin to shout when the federal government gives Edo State N700 million in four months?”.

He explained that the N2.1 billion which will reflect in 2023 Budget of the State, said “the money is not a special inflow”, noting that the State government releases N3 billion for funding ongoing Capital projects including tertiary institutions in the State monthly.

TheNewspad reports that Edo State Chairman of APC, Mr David Imuse at the Press on Monday insisted that Governor Obaseki is hoarding Edo State from the 13 percent of the oil revenue to buy votes in 2023 general elections.

This was after Governor Nyesom Wike of Rivers State, opened the pandora box, declaring that President Muhammadu Buhari approved and paid the arrears to Rivers, Bayelsa, Delta, Edo and Akwa Ibom States.

Wike fired the dart on Friday November 18, 2022 at the inauguration of the N17 billion Port Harcourt Campus of the Nigerian Law School, declaring publicly that President Buhari’s gesture was the major source of revenue for his projects, including the flyovers, the law school and the cancer Centre.

“Monies that were not paid to the Niger Delta states since 1999 mainly 13 per cent deductions, the President approved and paid all of us in Niger Delta States”, according to the Governor.

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