ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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ENUGU YET TO RECEIVE 13% OIL REVENUE, GOVERNOR MBAH URGES FEDERAL ACTION. (PHOTO).

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 Enugu Yet to Receive 13% Oil Revenue, Governor Mbah Urges Federal Action


Enugu State Governor Peter Mbah has called on the Federal Government to expedite the inclusion of Enugu in the 13% oil revenue derivation fund, as stipulated by the 1999 Constitution. The governor made the appeal during a meeting with the Indices and Disbursement Committee of the Revenue Mobilisation, Allocation, and Fiscal Commission (RMAFC) at the Government House in Enugu on Wednesday.


The RMAFC had officially recognized Enugu as an oil-producing state in December 2022, based on the recommendations of its Inter-agency Technical Committee. The committee identified Enugu as eligible for the 13% derivation from oil fields in the Anambra River Basin 1, 2, and 3. However, Governor Mbah expressed regret that the state has yet to receive these funds.


“We still have this pending issue of Enugu State being recognized as an oil-producing state, which your office communicated to us in December 2022,” Mbah said. “It is our hope that your office will put the necessary machinery in motion to ensure that we begin to benefit from those fields.”


Mbah highlighted his administration’s efforts to boost the state’s Internally Generated Revenue (IGR) by over 400% through expanded revenue sources and technology-driven measures to curb leakages. He projected that Enugu’s IGR would exceed ₦500 billion in the 2025 budget. Additionally, he noted that all revenues allocated to local governments are disbursed in full, with state support for major projects, reflecting a commitment to transparency and accountability.


The RMAFC delegation, led by Mr. Ismaila Agaka, Commissioner representing Kwara State, commended Mbah for the effective use of federal allocations and IGR to drive transformative projects in Enugu. “We thought it was one of those media blitzes, but we have seen the work going on for ourselves,” Agaka said, noting the state’s efforts to eliminate illegal structures and maintain discipline in urban planning.


Agaka explained that the RMAFC team was in Enugu to monitor disbursements from the Federation Account, identify any irregularities or misapplications of revenue-sharing indices, and examine deductions affecting the state and its local governments. The visit aims to ensure accurate and fair revenue allocation to Enugu and its council areas.


Governor Mbah’s call underscores ongoing efforts to secure Enugu’s rightful share of oil revenue, which could significantly bolster the state’s development agenda. The RMAFC is expected to address the delay in disbursing the 13% derivation to Enugu as part of its mandate to ensure equitable revenue distribution.

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