Q1’24: Oil Producing States’ Earnings Hit N199.96bn

Amid huge infrastructure and socio-economic decay, Nigeria’s oil producing states got a total of $157.6 million from the Federation account as 13 per cent derivation revenue in the first three months of the year, findings by New Telegraph show.

An analysis of Federal Account Allocation Committee (FAAC) communiqués and FAAC reports, published by the National Bureau of Statistics (NBS), indicates that the amount is $24 million or 17.99 per cent higher than the $133.6 million that the states received in the corresponding period of 2023.

Read more at Newtelegraphng

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