By Enemona Ocheme
Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Elias Mbam, says Kogi State in North-Central Nigeria will soon smile to the bank when the Federal Government commences oil exploration in the recently discovered oil wells in Ibaji Local Government Area.
Speaking to ait.live on the sideline of the Zonal Public Hearing for the Review of the Current Revenue Allocation for North-Central States, Elias Mbam said the Kogi State should explore more revenue alternatives from its abundant minerals.
States with natural resources available in commercial quantity for national use have revenue advantage over other states and with the discovery of oil in parts of Ibaji, Mbam says Kogi State is on the verge of smiling to the bank with 13% derivation of proceeds from oil production.
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Kogi State Commissioner for Finance, Budget and Economic Planning, Asiwaju Idris on his part is hopeful that the state will better address workers’ demand when the review of revenue allocation comes to reality.
With numerous solid mineral deposits available in commercial quantities in Kogi State, the State waits in joyful hope, for the commencement of oil exploration which will provide employment for citizens and boost its economic status through increased allocation and other investments.
(Editor: Terverr Tyav)
