Tinubu group accuses South – South Govs of cornering N950billion oil money, seek for their impeachments by State Assemblies

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The Parliamentarians Directorate of the All Progressives Congress ( APC ) in South – South geo – political zone , raised the alarm Wednesday in Abuja that the six governors in the region are cornering outstanding N950billion excess crude oil monies and 13% derivations  due to the states through low rate discounting at various banks .

It consequently called on respective House of Assembly of the affected states to carry out thorough investigation on the ridiculous discounting by the Governors with attendant impeachment proceedings against them .

Levelling the allegations against the governor during inauguration of the Parliamentary forum in support of APC candidates in the 2023 general elections , the Director of the Parliamentarians , Senator Ita Enang said  governors of the respective states have not only squandered substantial portion of oil monies given them by President Buhari but already discounting the yet to be collected N950billion .



The monies he explained are refund to the oil producing states as arrears between 2004 and 2019 as well as derivation arrears from deductions made by NNPC from 1999 to December 2021 aside refund of 13% derivation exchange rate differential of the dollar on withdrawal from excess crude account .

On state by state basis , Ita Enang said while Akwa Ibom State has collected total sum of N133.5billion , it has outstanding of N277billion to collect but already discounting at low rate in banks for ridiculous loans .

Rivers State government under Governor Wike as stated in the written document circulated at the press briefing , has collected N116billion from the oil monies arrears and N229billion as outstanding also allegedly being mortgaged through low discounting in banks for ridiculous loans .

For Delta State State , Ita Enang alleged that a total of N125billion has been collected while outstanding balance of N253billion is being mortgaged .

He added that while  Bayelsa State has also collected N104billion of such monies , the outstanding balance of N209billion is also being discounted by the State Governor for ridiculous loans .

Edo State according to him , is also in the business of squandering oil monies accrued to the State with little or nothing to show for the N13billion collected so far and discounting action already being taken on N37billion outstanding payment due to the state .

He however said that Cross River State government is not in the fleecing game due to insignificant accruals the state has been getting .

” Total money collected by Cross River State from oil money arrears is N1.4billion while outstanding payment is N1.2billion .

” Exposures being made here today on how the Governors of the South South States , have been squandering oil earnings , are to get the people of the respective states informed ahead of the 2023 general election that they should reject their party , the Peoples Democratic Party ( PDP) in the 2023 general election.

” We want impeachment proceedings to be carried out against them by their respective State Houses of Assembly if their members  truly loyal to the people.

” We however thank the Governors for their kleptomania which will surely make candidates of their party to lose elections next year “, he said .

He challenged any of the governors to counter statements of facts levelled against them .


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