Kogi receives first 13% derivation payment as oil producing state

The Kogi State Governor, Yahaya Bello has confirmed the receipt of first payment of the 13 percent derivation fund as an oil producing state.

Bello disclosed this on Wednesday at a weekly executive council meeting held at the Lugard House in Lokoja.

The Revenue Mobilisation Allocation and Fiscal Commission had classified Kogi State as an oil producing state adding that state will would only start to enjoy the 13 percent derivation when the Ibaji oil well starts production and contribute to the federation account.

This makes Kogi the first northern state to enjoy such privilege in the country.

Speaking further on the development, the state information commissioner said that it was true.

“This means that the governor will have more funds to execute his many people-oriented projects he has started,” the commissioner said

When asked whether the burnt Kogi State House of Assembly would now be considered as a top priority project, the commissioner said that was left to the exco to decide when the time comes.