13% Derivation Fund: Why Wike maybe wrong
As the recent statement made by the Rivers State Governor, Mr Nyesom Wike on the 13 percent derivation to oil producing Niger Delta states continues to elicit reactions from Nigerians, findings have revealed that the governor is not totally correct on the issue of the derivation funds.
It could be recalled that during the commissioning of the Rivers State Campus of the Nigerian Law School, few days ago, Governor Wike, commended President Muhammadu Buhari for his approval and subsequent released 13 percent deductions from 1999 till date to all Delta State Governors.
Although, he didn’t mention when the money was released to the states by the federal government, investigations by our Newspaper have unearthed that since 1999 till 2016, the federal government had released to the states over seven trillion Naira.
According to information gathered from the Vanguard News of August 22, 2017 indicated thus:
”data obtained from a series of reports from the Central Bank of Nigeria, CBN, revealed that oil-producing states in Nigeria received N7.006 trillion as payments under the 13 per cent Derivation principle over the last 18 years, from 1999 to 2016.
The report added that
despite claims of neglect and abandonment, investigation has revealed that governments of oil-producing states in Nigeria had over the years, failed to utilize the resources provided them to develop their states and the region.
The Vanguard reports amongst other reports is the confirmation of the fact the previous administrations in the region had been receiving 13 percent funds since 1999.
Meanwhile, analysts who do not want their names mentioned have queried the motive behind the “revelation” by Governor Wike.
“Why didn’t Wike disclosed when he received the money from Federal Government? Why didn’t Wike declare the amount of money he received to Rivers People? Why did he wait till now before appreciating President Buhari,” he queried.
