Federal Government Commences Payment Of 13% Oil Derivative

Anambra State has started receiving 13% oil derivative from the federal government for sale of oil in the state in commercial quantity.

This was made known by the minister of finance Zainab Ahmed at the end of July 2022 FAAC meeting in Abuja where she said that federal government paid #373.2 billion in refunds which included 13% oil derivative paid to Anambra State Government but did not mention exactly how much was paid to the government.

It will be recalled that in February 2022 the Federal Government wrote to Anambra State informing it of its inclusion in the oil producing states of the federation and by that virtue will be paid the statutory 13% oil derivative.

This is indeed a welcome development to the people of Anambra as it will aid financially in the development of the state.