The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reopened the verification of disputed oil and gas wells after several Nigerian states complained that a previous report used to allocate derivation revenue was flawed.
State Concerns
The affected states argued that the earlier report did not accurately reflect the number or output of wells, leading to an uneven distribution of the derivation share of oil and gas revenues, which is the portion of national earnings allocated to oil‑producing states.
RMAFC’s Response
In response, RMAFC announced that it will re‑verify the contested wells to produce a new, reliable dataset for revenue sharing. The commission said the fresh verification will address the states’ grievances and ensure a fair allocation.
Next Steps
Once the re‑verification is complete, RMAFC will issue an updated report that will replace the earlier one and serve as the basis for future derivation revenue distribution.
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<small>Source: Punch Nigeria — read the original story there.</small>