- Kogi State has received its first 13 per cent derivation as an oil-producing state in Nigeria
- The state governor, Yahaya Bello, narrated the development at the state's executive council meeting in Lokoja
- The development makes Kogi the first northern state to be ranked as an oil-producing state after the Ibaji oil well was discovered in the state
The Kogi State Governor, Yahaya Bello, has confirmed the receipt of payment for the first patent of the 13 per cent derivation fund as an oil-producing state.
The governor stated this on Wednesday, October 19, 2022, at a weekly executive council meeting in Lokoja, the state capital.
Kogi gets first payment as oil producer
According to the Punch, the Revenue Mobilisation Allocation and Fiscal Commission had ranked Kogi State as an oil-producing state, qualifying it to receive a 13 per cent derivation fund from the federation account like other oil-producing states.
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The Commission, however, said the state would begin to get the 13 per cent derivation when the oil well at Ibjai begins producing and contributing to the federal account.
It is unclear if the oil well has begun oil production.
State says more funds would be available for more projects
The development makes the state the first in the north to enjoy the privilege in the country.
The state's information commissioner stated confirmed the development, saying the development means the governor will have more funds to execute more projects in the state.
He said there are many ongoing projects in Kogi's education sector, health and many other infrastructure projects, adding that more funds would be available to executive them.
Five facts about Dangote's fight with Kogi's government over Obajana Cement factory
Recall that Legit.ng reported that the altercation between the Dangote Group and the Kogi State government over the ownership of the Obajana Cement factory ended as fast as it began.
The 10-day rift had Nigerians watching as Kogi State government led by Yahaya Bello allegedly laid siege to the cement factory, chased workers away and locked the place.