Bayelsa faults FG for deducting N11.678bn over disputed oil wells

2021-07-25
THE PUNCH Newspaper

The Bayelsa State Government has faulted the deductions of a total sum of N11.678bn by the Federal Government from its monthly revenue allocation over disputed oil wells with sister states.

The government described the deductions as “illegal.”

Governor Douye Diri’s Technical Adviser on Finance, Revenue and Accounts, Timipre Seipulou, said spoke during the income and expenditure briefing for the months of March and April 2021 at the state Ministry of Finance Conference Hall, Yenagoa, on Thursday.

He said although a lower court had ruled over the matter, the Federal Government should have allowed all the legal processes to be exhausted before making the deductions.

Seipulou complained that the state government had protested against the issue to no avail, noting that the N939.865m was being deducted monthly from the Bayelsa’s allocation.

He said, “The N11b deducted is the fund we were earning from statutory and derivation allocations. But we have legal issues with our sister states where some oil wells are being contested.

“While the issue is still in court, the Federal Government said the Bayelsa State Government needed to pay the money back to the Federation Account. The Federal Government should not have deducted such funds until the legal processes were exhausted.”

 

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