• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, April 1, 2026
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 Nigeria
3 years 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  OPINION: Okowa, His Daughter, and the Question of Political Concentration in Delta North

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  Delta APC Congress Runs Smoothly: No Rift Among Omo-Agege, Ibori, Nwoko, Oborevwori & Okowa — Group Slams Rumour Mongers

“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  Delta North 2027: Senator Ned Nwoko, A Superior Argument And A Safer Aspiration

“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

Tinubu at 74: Dafinone Hails Bold Reforms, Inspiring Leadership
Economy

Hunger Before Ballots: Mulade Tells Tinubu to Act Now or Risk National Collapse

March 31, 2026
Tax Justice Drive: Oborevwori Positions Delta to Host South-South Zonal Office of Tax Ombud
Economy

Tax Justice Drive: Oborevwori Positions Delta to Host South-South Zonal Office of Tax Ombud

March 20, 2026
Relief at Last: Senator Ned Nwoko’s Push Brings Heavy Equipment to Onicha-Ugbo–Idumuje Ugboko Road Site
Economy

Relief at Last: Senator Ned Nwoko’s Push Brings Heavy Equipment to Onicha-Ugbo–Idumuje Ugboko Road Site

March 19, 2026
Delta Expands Flyover Network Jan 12 as Oborevwori Flags Off Otovwodo Project in Ughelli
Economy

Our Plan to End Electricity Woes in Delta – Governor Oborevwori Speaks

March 19, 2026
Next Post
I shall give Deltans what they want – Oborevwori

DELTA 2023: Sheriff Oborevwori and The New Deal

Leave Comment

RECENT STORIES

Ughelli Monarch Throws Weight Behind 2026 Advocate Lecture on Nigeria’s Governance Crisis

Ughelli Monarch Throws Weight Behind 2026 Advocate Lecture on Nigeria’s Governance Crisis

March 31, 2026
Tinubu at 74: Dafinone Hails Bold Reforms, Inspiring Leadership

Hunger Before Ballots: Mulade Tells Tinubu to Act Now or Risk National Collapse

March 31, 2026
“A Beacon of Hope” — Guwor Salutes Onyeme’s Leadership as He Turns 61

“A Beacon of Hope” — Guwor Salutes Onyeme’s Leadership as He Turns 61

March 31, 2026
Germany ‘Rejects’ Fani-Kayode as Envoy — Report Sparks Diplomatic Questions

Germany ‘Rejects’ Fani-Kayode as Envoy — Report Sparks Diplomatic Questions

March 31, 2026
Inside Nollywood Rift: Afolayan, Akindele Clash Over ‘Aníkúlápó’ Role

Inside Nollywood Rift: Afolayan, Akindele Clash Over ‘Aníkúlápó’ Role

March 31, 2026

TRENDING STORIES

  • Grassroots Roar for Ovie Omo-Agege’s Senate Return as Agbarha APC Endorses Ominimini Obiuwevbi for Reps

    Grassroots Roar for Ovie Omo-Agege’s Senate Return as Agbarha APC Endorses Ominimini Obiuwevbi for Reps

    0 shares
    Share 0 Tweet 0
  • Oborevwori Hands DESAAA Board Chair to Grassroots Mobiliser Jaro Egbo

    0 shares
    Share 0 Tweet 0
  • APC Agbarha Ward Suspends Omo-Agege’s Ally Ominimini Obiuwevbi Over Parallel Structure

    0 shares
    Share 0 Tweet 0
  • Senator Dafinone Hosts Delta Central APC Leaders Ahead of Convention at Eagle Square

    0 shares
    Share 0 Tweet 0
  • “Can a Tenant Sack a Landlord?” — Aruoture-Led APC Agbarha Ward Suspends 10, Voids Rival Sanctions

    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.