News
Court orders FG to pay Rivers , Akwa Ibom $3.3bn oil revenue
A Federal High Court sitting Abuja has ordered the Federal Government to pay the sum of $3billion to Rivers and Akwa Ibom States, as their revenue share from crude oil sales.
The amount formed the shares of the two sales from the $62 billion said to have been recovered from some oil companies by the Federal Government.
In a judgment, Justice Taiwo Taiwo ordered that $1,114,551,610 be paid to Rivers state, while another sum of $2,258,411,586 be paid to Akwa Ibom state, being the amount separately claimed against the Federal Government from the share from the $62 billion recovered from the oil companies.