Bauchi State Governor, Bala Mohammed, has revealed that state governments have not benefited from the increased oil revenue, as the funds are not being properly credited to the Federation Account. As the Chairman of the People’s Democratic Party (PDP) Governors’ Forum, he called on the Federal Government to explain why the revenues collected are not being remitted for fair distribution among the three tiers of government, as required by law.
Governor Mohammed made this statement during a courtesy visit by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, ahead of the 2024 National Council on Finance and Economic Development conference in Bauchi. He stressed that it was surprising that states have yet to benefit from oil revenues, especially given Nigeria’s position as one of the world’s largest oil producers.
The Governor pointed out that despite being a major oil producer, the country has seen minimal benefits under the current government, despite the removal of fuel subsidies, which had previously drained the oil revenue. He further emphasized that the oil and gas sector must not only produce and sell but also ensure the revenue is deposited in the national Treasury for proper distribution to all levels of government.
In response, the ruling All Progressives Congress (APC) criticized the PDP governors, including Governor Mohammed, for making broad claims without providing specific evidence. Nze Chidi Duru, the Deputy National Organizing Secretary of the APC, urged the PDP governors to present concrete facts to substantiate their claims. He noted that previous similar claims lacked substance upon closer investigation and insisted that the current administration has been transparent in its financial dealings, with more resources now being allocated to state and local governments than ever before.
Duru emphasized that the APC government is open to constructive criticism but insisted that any concerns should be backed by solid evidence. He also stated that the government is committed to addressing any issues that prevent proper revenue collection and distribution, ensuring that resources benefit all levels of government.
