The Oil and Gas Producing Communities in Nigeria (HOSCON) has said a total of N44 trillion had in the last 20 years accrued to states in the Niger...
The Oil and Gas Producing Communities in Nigeria has said a total of N44 trillion had in the last 20 years accrued to states in the Niger Delta region through the 13% Derivation Fund.
The statement explained that provided the principle of derivation shall be constantly reflected in any approved formula as not being less than 13% Derivation fund ,it is the only first line charge on the Federation Account. It said “despite the receipt of over N44trillion from the 13 per cent derivation principle between 2000 and 2018, by Niger Delta states, the deplorable living conditions in oil-producing communities remain nauseating, raising questions about the application of such large sum by state governments.
“Pay same directly to the Host communities through the proposed Presidential Derivation Committee and State Implementation Committees .
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