A Review of the Nigerian Energy Industry

HOSTCOM tells Okowa to give DESOPADEC N4bn derivation money – See more at: htt

04 July 2015, Asaba- National Coordinator of the Host Communities of Nigeria (HOSTCOM), Prince Maikpobi Okareme, Friday, asked the governor of Delta State, Senator Ifeanyi Okowa, to pay N4 billion, being 50 per cent of the 13 per cent derivation collected by the state government for the month of May to the Delta State Oil Producing Areas Development Commission, DESOPADEC.

Okareme, who spoke to Vanguard on phone, said according to the revenue allocation to states just published by the Federal Ministry of Finance, Delta State collected N8 billion as derivation for the month of May.

He said, “The DESOPADEC law stipulates that 50 per cent of the derivation should be released to DESOPADEC. Therefore, the Host Communities of Nigeria, Delta State chapter requests the governor, Senator Okowa, to release N4 billion, being half of the amount received for May 2015 to the Commission.”

The HOSTCOM leader asserted, “We call on Senator Okowa to obey DESOPADEC law, which is why we are drawing his attention to it.”

He observed that it was failure to release 50 per cent share of derivation money that led to the impasse between host communities and the previous government and enjoined Okowa to avoid the mistakes of the past.

– See more at: http://www.vanguardngr.com/2015/07/hostcom-tells-okowa-to-give-desopadec-n4b-derivation-money/#sthash.w35MoLgg.dpuf

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