Economy
Abia seeks RMAFC’s intervention on contentious oil wells
Deputy Governor of Abia State Nigeria; Mr Emeka Ananaba has called on the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to resolve the disputed oil wells between the state and Rivers. Ananaba made the call in Abuja when he visited the Chairman of the commission, Mr Elias Mbam, in his office. He claimed that Rivers was reaping from oil wells belonging to his state, and denying the state the benefits of the 13 per cent derivation.
Ananaba also enlisted the commission’s support to assist the state to access the Natural Resources Development Fund. The Federal Government has earmarked 1.68 per cent of the Federation Account Allocation for natural resources fund. The deputy governor said Abia needed the fund to develop its agricultural sector as part of its bid to diversify its sources of revenue. Mbam noted that beyond the oil resources, Abia had a lot of potential to diversify its economy.
-
Oil and Gas2 days agoNUPRC vows not to approve divestments that doesn’t meet considerations
-
Oil and Gas2 days agoIran eases Strait of Hormuz transit rules amid oil shock
-
Finance2 days agoCardoso seeks collaboration to check cross‑border financial risks
-
Oil and Gas2 days agoCourt orders forfeiture of $13m linked to Aisha Achimugu’s firm
-
Oil and Gas2 days agoOil falls as reports of 15-point proposal spurs ceasefire hopes
-
Economy2 days agoNigeria to launch trade platform at ports as part of reform push
-
Finance2 days agoCourt nullifies CBN’s regulatory intervention in Union Bank in 2024, rules it acted beyond its powers
You must be logged in to post a comment Login