The Socio-Economic Rights and Accountability Project (SERAP) has given nine Nigerian oil-producing states seven days to publish the details of the oil derivation funds they received.
The nine oil-producing states; Abia, Akwa Ibom, Bayelsa, Delta, Edo, Rivers, Ondo, Imo, and Cross River states, were given a total of N477.2 billion as a refund of the 13 percent derivation fund on withdrawal from Excess Crude Account (ECA).
This fund excludes the deduction of the derivation from 2004 to 2019 leaving an outstanding balance of N287.04 billion.
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In an open letter dated December 10, 2022, and signed by the Deputy Director of SERAP, Kolawole Oluwadare, SERAP also requested that the states include the locations of projects executed with the refunds.
According to SERAP, it is the right of Nigerians to know how their states are pending the refunds being received.
SERAP also believes that the report would enable Nigerians to scrutinize the spending of the refund.
The non-profit advocacy organization stated that the report would also promote transparency and accountability in the spending of public funds.
