Court orders FG to pay Bayelsa $951 million derivative arrears

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The amount is the 13 per cent derivative sum due as arrears of revenue and payable to the Bayelsa government.

He said the defendant had admitted the claims of the Bayelsa government in the process the former filed in reaction to the suit.

“In that case, I also find that the case of the plaintiff remains not only challenged but admitted and therefore must succeed on the merit. NAN reports that the Akwa Ibom, Bayelsa and Rivers governments sued the AGF at the Supreme Court, demanding an upward adjustment of the shares of revenues accruing to the Nigerian government whenever the price of crude oil exceeds $20 per barrel.

 

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That's some good money

They will have to sell Nigeria to pay this.. 🤡

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