Gov Bello Confirms Receipt Of First 13 Percent Derivation From Kogi Oil

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Yahaya Bello, the governor of Kogi State, has confirmed the receipt of the first payment of the 13 percent derivation fund as an oil producing state.

Bello made the announcement during a weekly executive council meeting at the Lugard House in Lokoja on Wednesday.

Kogi State was classified as an oil producing state by the Revenue Mobilisation Allocation and Fiscal Commission, which qualified it to receive 13 percent derivation fund from the federation account, just like its counterpart oil producing states.

The commission, however, stated that the state would not begin to benefit from the 13 percent derivation until the Ibaji oil well began production and began contributing to the federation account.

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However, it is unclear whether the oil well has started producing.

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