Buhari pays N625 billion to 9 oil producing states

Admin l Friday, December 2, 2022

 

ABUJA, Nigeria –  President Muhammadu Buhari has approved payment of N625 billion to nine oil producing states in Nigeria.

Buhari who made the statement via his Twitter page said the total amount owed the 9 oil producing states are N1.7 trillion, adding that as a matter of honour, all debts owed states must be paid regardless of political affiliation.

“N625  billion has been paid so far, the balance will be paid in due course”, he said.

He named the benefiting states as Abia, Akwa Ibom, River, Cross River, Delta,  Edo, Imo and Ondo state.

According to him, the money is for 13 percent oil derivation, subsidy and SURE-P covering the period between 1999 and 2021.