Obiano reveals Anambra to start receiving 13% oil derivation by March

Obiano reveals Anambra to start receiving 13% oil derivation by March

Gov. Willie Obiano says Anambra will begin to earn 13 per cent derivation in line with its status as an oil-producing state from March.

Obiano disclosed this at a parley with journalists in Aguleri, Anambra East Local Government Area after a tour of the Awka International Convention Centre and Anambra Cargo and passenger airport on Saturday, February 19.

He said he was notified by the Nigeria Midstream and Downstream Pricing and Regulatory Agency (NMDPRA) who had confirmed the lifting of crude oil in commercial quantity in Anambra.

He said Anambra had 15 oil wells with ENIYE 10940 Oil fields operated by SEEPCO fully operational and wholly owned by the state.

Obiano also said the rice production of the state had hit 530,000 metric tonnes yearly from the 85,000 metric tonnes capacity of 2014.

He said the revolution his administration brought into the agricultural sector made the state become not only self-sufficient in production; but a net exporter of the commodity.

He said the state demand was just about 330,000 metric tonnes of the total output; noting that a lot of businesses had been invested in the sector; and that many family economies had been transformed by the boom.

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He said the Anambra Airport which was fully operational would boost trade and commerce; as well as export capacities of the state.

Obiano said the 10,000 capacity International Convention Centre would be inaugurated on March 9.

He noted that he would not be going for any political office; but announced that his wife, Mrs Ebelechuwku Obiano, would be contesting for Anambra North Senatorial District.

Meanwhile, the Lagos Chamber of Commerce and Industry (LCCI) has urged the federal government to revive local refineries to curtail the hazards associated with fuel importation.

The LCCI President, Dr Michael Olawale-Cole, made the call in a statement on Friday, February 18, in Lagos.

He said beyond politics, the government should consider the economics of refurbishing and also maintaining existing refineries.

Olawale-Cole said the government should take decisive action; as to whether to own the refineries or involve the private sector in their management for profitability and sustainability.

“The government may need to consider a joint venture model of the kind with Nigeria Liquified Natural Gas; where the government holds 49 per cent and private sector 51 per cent for the refineries.

“As at end of 2020, the NLNG raked in revenue worth 114 billion dollars, paid 9 billion dollars in taxes; and 18 billion dollars in dividends to the federal government.

“This model can be replicated with the refineries. A 100 per cent ownership and management by the government is not advised,” he said.

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