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13% Oil derivation: Akwa Ibom releases details, admits receipt of N186 billion arrears from FG
In what has been shrouded in secrecy until recently when some critics began to mount pressure on Akwa Ibom State government to give account of the 13% oil derivation accrued to the State, the figure of arrears of money received from the Federal between 2021 and Q3 of the 2022 has been released.
While addressing journalists in Uyo, Akwa Ibom State capital on Monday, the State Finance Commissioner Linus Nkan, said the sum of N186 billion arrears between 2021 and Q3 2022 was received by Akwa Ibom State government.
The disclosure which was the second time in a week was at the backdrop of public demand. This is after the State government had previously referred those interested in knowing the accounts of the Akwa Ibom State to the State Accountant General’
The state government, through Mr. Nkan, initially referred those who asked questions about the arrears to the state budget and the Accountant General’s 2021 report.
Mr. Nkan, for more than a week, has refused PREMIUM TIMES requests for comment on the matter.
Before, different figures circulated on the internet, such as the amount paid to the State for the 13 percent delay in the referral.
Governors of Nigeria’s Niger Delta region have been under pressure to disclose the amount paid to their states as diversion arrears, after Rivers State Governor Nyesom Wike revealed on November 18 that part of the money from his state is what his administration had been using to implement various multi-million dollar projects in the state.
Wike’s comment “it would be unfair not to tell the public” made it appear that other governors in the region had withheld information about their receipt of money paid to them by President Muhammadu Buhari’s administration.
Later, Governor Rivers, during a banquet hosted in Port Harcourt by the People’s Democratic Party in Rivers State for the G5 governors, challenged other governors from the Niger Delta region to point out what they have been doing with money received from the federal government. , according to a report by Canales TV.
The challenge put governors in the crosshairs and triggered a demand for accountability.
reactions
Fidelis Tilije, Finance Commissioner in Delta state, in his reaction, said that the state would accumulate N240 billion as diversion arrears, and that the state has so far received only N14.7 billion in three tranches of N4.9 billion each.
Mr Tilije said the Delta state government, with the approval of the House of Assembly, requested N100 billion from the bank, with repayment linked to expected diversion fund arrears.
“So far, we have received N14.7 billion in three quarterly installments and have also accessed N30 billion of the N100 billion we requested as bridge financing,” he said.
In Edo, the state government said it received only N2.1 billion of the N28 billion accumulated by the state.
“The net amount will reach each state over five years in 20 tranches. Each year, you will have quarterly shipments, which is four shipments each year for more than five years. Due to some court cases from some states, the launches started this year, October 2022,” said Edo State Finance and Budget Commissioner Joseph Eboigbe.
“The Edo state government got three tranches of N700 million per quarter, which is equivalent to N2.1 billion of the N28 billion. It is verifiable.
“We expect 20 quarterly tranches over five years, but so far, we’ve only gotten three out of 20 and it’s verifiable. We have the records of how the money is spent,” he added.
Akwa Ibom
The finance commissioner in Akwa Ibom, Mr Nkan, said the state had received N160 billion as diversion arrears in 2021 alone.
Nkan also said that the state government projected N41.4 billion in the 2022 budget as bypass arrears, of which it received N26 billion for the third quarter of this year.
The finance commissioner said again that 100 billion naira was estimated in the 2023 budget as bypass arrears, but did not explain the fluctuations in the amount.
For example, N160 billion was received in 2021, but the state government estimated a lower amount: N41.4 billion in the 2022 budget, but in the 2023 budget, the amount increased more than one hundred percent to N100 billion. compared to the 2022 figure.
He reportedly admitted that the state government obtained bank loans, but did not disclose the amount and whether the full amount accrued by the state as bypass arrears was obtained as loans.
Nkan told reporters that the House of Assembly had approved the loans.
policy alertA nonprofit organization that focuses on promoting economic and ecological justice, raised the alarm Friday that the state government may have obtained loans from the bank in 2021 without informing the public.
Tijah-Bolton Akpan, the organization’s executive director, was speaking to reporters in the context of the state government’s refusal to make public the amount received as diversion arrears.
Last year, the organization alleged that the state government received N171.2 billion under the subheading “13 per cent of arrears bypass revenue during the third quarter of 2021,” an allegation that the state’s governor, Udom Emmanuel, denied in February 2022 according to the Business Day newspaper. report.
But the finance commissioner, Mr. Nkan, confirmed the claim made by the non-profit organization, albeit with differences in the figures.
“In 2021, the sum of 160 billion was remitted to the State account. In 2022, the projected income from this source was 41,434,000,000, but as of Q3 (third quarter), the sum of 26 billion has been received.
“Consistent with the proper maintenance of financial records and transparency of public finances, the refund was reflected in the 2021 budget as ‘Other Exceptional Revenue: 13% Bypass Revenue Arrears,’ which was reviewed by a sum of 193,000,000,000; in 2022 the revised provision was 41,434,000,000; in the 2023 budget, the estimate for this item is 100,000,000,000. A simple calculation of these figures will reveal the mindset of sustainability that guides the governance in our State.
We are nearing the endgame leading to an attack on Iran’s nuclear program – or to serious new nuclear negotiations.
US President Donald Trump against backdrop of Iranian missile (illustration).(photo credit: Canva/DavorLovincic, Getty Images/Anna Moneymaker)
It’s been several weeks since US President Donald Trump sent a letter to Iran giving it two months to arrive with him to a nuclear deal or it would likely face military force.
No one knows exactly how Trump will calculate the deadline: two months from when the letter was sent, two months from when the Islamic Republic received the letter, two months from when it responded, or two months from when talks may start.
But after Trump’s deadline, European countries Germany, France, and England (the E-3), set June as a deadline for Tehran to reach a nuclear deal lest it face global sanctions being snapped back on it according to a provision of the 2015 nuclear deal it signed with the West.
So whether his deadline is early May or closer to early June like the E-3, we are down to one to two months for a new Iran nuclear deal or for some significant interim progress sufficient to extend the deadline.
Why is Iran facing increased pressure on its nuclear program?
The increased tensions are not just based on Trump’s deadline threat.
In recent days, including again on Sunday, Trump threatened Tehran more explicitly with being attacked, including, “bombing the likes of which they have never seen before.”
His latest threat was also unusually ambiguous in that some interpreted it not merely as giving Israel a green light to strike the Islamic Republic’s nuclear program, but potentially having the US participate as well.
In a different atmosphere this might be seen as a bluff, but Trump has put forth a large and sustained series of airstrikes against the Houthis of Yemen now for multiple weeks.
This, and the fact that Trump ordered the targeted assassination of Qassem Soleimani, the former Islamic Revolutionary Guards Corps Quds Force chief, in 2020, makes the threat of US participation on some level suddenly real.
Iran’s Supreme Leader Khamenei not turning the other cheek
Meanwhile, Iran Supreme Leader Ayatollah Ali Khamenei is not turning the other cheek.
He and his lieutenants have said unmistakably that if their nuclear program is struck by anyone, even if it is “just” by Israel, that they will retaliate by attacking every single US base in the region.
They then went out of their way to broaden that definition to even include bases the US shares with other countries, such as the UK Diego Garcia Base in the Indian Ocean and American bases even in countries like Turkey.
This would be in addition to the more obvious US troops in Middle Eastern countries like Syria, and in addition to attacking Israel and Gulf countries like the Saudis, all of whom Khamenei has ordered attacked in the past.
Iran is signaling in public that it will make no new concessions beyond what it was willing to make to the Biden administration and that it will not negotiate under pressure, but the fact is that it is saying it will consider indirect negotiations at a time that Trump is threatening it will bombing and instituting a host of tougher sanctions.
Khamenei knew that Biden would try to hold Netanyahu back from attacking Iran’s nuclear program as he did on April 19, 2024 and October 26, 2024.
However, he also knows that either Trump will definitely give Netanyahu the green light to attack at some point if there is no deal, or is deeply worried that Trump would approve such a dramatic game-changing strike.
Not only that, but with Iran’s five S-300 air defense systems all destroyed by Israel in 2024, it knows that the Israeli air force’s capability to destroy or deeply harm and delay the nuclear program has moved from a difficult challenge to being close to a certainty.
Also, Khamenei has seen that Israel was able to shoot down most of its hundreds of ballistic missiles on two separate occasions. Does Khamenei really think his threats of a ballistic missile response will block Israel or the US or both from acting?
All of this makes negotiations much more likely.
Real negotiations between US, Iran will have to begin next month
In terms of when Khamenei must start negotiations and by when he would need to agree to a sufficient enough interim deal to gain a further reprieve, this is harder to say.
Probably real negotiations need to start in around the next month.
Reaching an interim deal could drag out longer, until September, given that the global sanctions snapback does not expire until October and that Trump’s deadline was somewhat arbitrary.
But there is no question that we are either nearing the end game leading to an attack on Iran’s nuclear program or to serious new nuclear negotiations which will kick the can down the road a few months, but not much farther than that.
The clock is ticking.
The Honourable Minister of Defence, H.E. Dr. Bello Mohammed Matawalle extends heartfelt congratulations to President Bola Ahmed Tinubu on the occasion of his 73rd birthday. The Minister commended the President’s Renewed Hope Agenda, particularly in the realm of national security, which has been bolstered by the unwavering dedication of the Nigerian Military.
Dr. Matawalle acknowledged the President’s exceptional leadership and decisive actions that have significantly enhanced the safety and security of Nigerians across the nation in a remarkably short period. He stated, “President Tinubu has taken bold and transformative steps that are already yielding positive results in our collective pursuit of peace and safety.”
The Minister emphasized that history will undoubtedly recognize President Tinubu for his courageous and intentional efforts to reset and reposition the country across various sectors for a brighter future. The positive outcomes of these initiatives are becoming increasingly evident.
“On this special occasion of his birthday,” Dr. Matawalle continued, “I, on behalf of my family, the Ministry of Defence, and all Nigerians, wish the President long life, good health, and the fortitude to continue making the courageous decisions necessary for our nation’s development during this pivotal time.”
Your transformative policies strengthens our faith in Nigeria. Mr President, I salute your excellence.
Edo State Governor, Senator Monday Okpebholo has arrived the ancient city of Kano on a condolence visit over the gruesome killing of 16 hunters on Thursday 27th March, 2025.
The governor was received by his counterpart inKano, Abba Yusugu o Monday afternoon.
Earlier, Governor Okpebholo visited the Deputy Senate President, Senator Jibrin Barau whomis also an indegene of Kano, disclosing that 14 suspects have been arrested in connection with the killing.
According to him, those arrested have been moved to Abuja for further interrogation.
Okpebholo was received in Kano by Governor Abba Yusuf and some of his cabinet members.
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