13% Derivation: How 9 oil producing states shared N450.60 billion in 2021
The nine oil producing states in Nigeria shared N450.60 billion from the federation account through the 13 percent derivation formula in 2021. Data from the National Bureau of Statistics (NBS) showed that Delta, Akwa-Ibom, Bayelsa, Rivers, Edo, Ondo, Imo, Lagos and Abia received the fund. The 13 percent derivation fund comes from the federation revenue