• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Friday, February 3, 2023
No Result
View All Result
NewsNet Nigeria
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos
NewsNet Nigeria
No Result
View All Result
Home Economy

Okowa clears air on N240bn 13% derivation arrears due Delta, says N14.7bn so far received

by NewsNet Publishers
2 months ago
in Economy
2023 budget will focus on outstanding projects, debt reduction – Delta Govt

Governor Ifeanyi Okowa

Share on FacebookShare on TwitterShare on LinkedinShare on Whatsapp

Delta Government on Monday debunked media reports credited to a governor of a South-South state that it had collected refunds from the Federal Government without disclosing it to citizens, saying it had remained committed to transparency and accountability in all its financial dealings on behalf of the people.

The Commissioner for Finance, Chief Fidelis Tilije, made this known at a news conference in Asaba while addressing the issues of 13 per cent derivation arrears payment to oil-producing states raised by Governor Nyesom Wike of Rivers at the weekend.

Tilije, who was in company with Commissioner for Special Projects, Chief Henry Sakpra and the Chief Press Secretary to the Governor, Mr Olisa Ifeajika, said contrary to the “revelation’’ by Wike, Delta had only received N14.7 billion in three quarterly instalments of N4.9 billion each.

ALSO READ  Person-to-Person Campaign Group rallies huge support for PDP Presidential campaign in Delta

According to him, the total amount due to the State from the 13 per cent derivation arrears is N240bn out of which the Federal Government agreed to pay in quarterly instalments for a period of five years.

“With the agreed amounts settled, some states like Rivers approached commercial banks and discounted theirs in full and collected, but Senator (Dr) Ifeanyi Okowa said he would not want to leave the next administration with a huge debt burden.

“He resorted to discounting only N150 billion out of the N240 billion expected receivables but later pruned it down to N100 billion.

ALSO READ  Okowa condemns doctor's murder, orders urgent investigation

“So far, we have got N14.7 billion in three quarterly instalments and we have also accessed N30 billion out of the N100 billion we applied for as bridging finance,” he explained.

The commissioner stated that contrary to the impression given by Wike that previous administrations in the country refused to pay the money to the oil-producing states, the discovery of the outstanding funds was made by current commissioners for finance in the Niger Delta states.

“The present Commissioners for Finance of the nine Niger Delta states looked into the books of the NNPC and discovered that 13 per cent derivation was not deducted from subsidy payments and investments in priority projects by the Corporation.

ALSO READ  Person-to-Person Campaign Group urges Nigerians to embrace Atiku-Okowa ticket

“We took the matter before the FAAC and National Economic Council and got them to approve the payment in arrears to the affected oil-producing states.

“It is important to state that this was only discovered under the Buhari administration, which he subsequently approved. It is not that previous PDP administrations refused to pay. It was never discovered then neither was it brought to their notice,” he said.

Tilije also denied claims by former Edo State Governor, Adams Oshiomhole, that the state government received over N60 billion in refunds for federal road projects executed by the state.

Previous Post

Flood victims in Delta Central receive relief materials from IEARN BOT

Next Post

DELTA 2023: Sheriff Oborevwori and The New Deal

MORE NEWS

Angry customers attack UBA in Warri
Economy

Angry customers attack UBA in Warri

February 3, 2023
Again, CBN insists on Jan. 31 deadline for use of old naira notes
Economy

Deposit of old Naira notes continues after Feb. 10

January 31, 2023
Delta govt denies fresh loan of N100b, says N20b new loan for Gas floating project in Warri
Economy

Delta govt denies fresh loan of N100b, says N20b new loan for Gas floating project in Warri

January 30, 2023
Emefiele extends deadline for old Naira notes by 10 days after meeting Buhari on Sunday
Economy

Emefiele extends deadline for old Naira notes by 10 days after meeting Buhari on Sunday

January 29, 2023
Next Post
I shall give Deltans what they want – Oborevwori

DELTA 2023: Sheriff Oborevwori and The New Deal

Comments 2

  1. Albert Agbenson says:
    2 months ago

    Why was this fact not revealed originally!? Why would it take the prompting by wike?

    Reply
  2. John T. Agberia says:
    2 months ago

    I had some doubt in the revelation and even queried how President Muhammadu Buhari will pay such huge amount of money out to Niger Delta Governor’s without any atom of reference in the media. But it is clear that the thieving governor’s also have their way of stylishly applying for loans which has been in the front burners over months now.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECENT STORIES

Angry customers attack UBA in Warri

Angry customers attack UBA in Warri

February 3, 2023
NBA Warri accuses Okowa of frustrating appointment of 5 judges in Delta

NBA Warri accuses Okowa of frustrating appointment of 5 judges in Delta

February 3, 2023
FG unaware of plot against Tinubu – Lai Mohammed

FG unaware of plot against Tinubu – Lai Mohammed

February 1, 2023
‘Elements’ in Presidential Villa working against Tinubu – El-Rufai

‘Elements’ in Presidential Villa working against Tinubu – El-Rufai

February 1, 2023
I didn’t forge my WAEC certificate, Oborevwori tells court

I didn’t forge my WAEC certificate, Oborevwori tells court

January 31, 2023

TRENDING STORIES

  • NBA Warri accuses Okowa of frustrating appointment of 5 judges in Delta

    NBA Warri accuses Okowa of frustrating appointment of 5 judges in Delta

    0 shares
    Share 0 Tweet 0
  • I didn’t forge my WAEC certificate, Oborevwori tells court

    0 shares
    Share 0 Tweet 0
  • Osun Election Tribunal Minority Judgment By Hon. Justice B. A. Ogbuli

    0 shares
    Share 0 Tweet 0
  • Adeleke loses at Osun Tribunal

    0 shares
    Share 0 Tweet 0
  • Okowa replaces Oloye with Orubebe in Warri-Uvwie and Environs Special Areas Development Agency

    0 shares
    Share 0 Tweet 0
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.

No Result
View All Result
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist