Delta Got Only N44b Out Of N240b Derivation Fund- Okowa

The Delta State Government has said it assessed only N44.7 billion out of the N240 billion due it from the 13 percent derivation fund owed by the Federal Government.

Fidelis Tilije, state commissioner for finance disclosed this while briefing reporters at Government House, Asaba.

The clarification comes against the backdrop of the Rivers State Governor Nyesom Wike’s disclosure that President Muhammadu Buhari had released the 13 percent derivation money owed to the Niger Delta States from 1999 to the present.

Wike revealed this during a project commissioning in Rivers while explaining where the money used in building the projects in the state came from.

However, Tilije has come out to explain that N240 billion was Delta’s share of the payment approved by President Muhammadu Buhari for the nine oil-producing States from 2004 to date.

He said that the State government had initially applied for N150 billion bridging finance, which the federal government turned down to N100 billion from the expected Refund of N240 billion to meet payment of its legacy projects in the State.

“So, in a way, the state has accessed and utilised the N14.7 billion paid by the Federal Government and the N30 billion from the bridging finance for payment for ongoing projects,” he said.

He further clarified that the total amount owed Delta with respect to the deductions was N240 billion and that the Federal Government had agreed to pay the money quarterly in five years.