Lagos gets first 13% oil derivation by December-Ambode


Published on November 15, 2016 by pmnews   ·   No Comments



Lagos State Governor, Akinwunmi Ambode, has disclosed that the state will get its first 13 percent derivation from being an oil-producing state by next month.

This followed the first export of oil from the Aje oil field located offshore Lagos.

The governor, who spoke on Tuesdayin Lagos, Southwest Nigeria at the International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists, announced to the large gathering that the state would receive its first derivation by next months.

Represented by the Commissioner for Energy, Mr. Wale Olowu, he said the first export from the Aje oil field had happened and that the big deal was that Lagos State is anxiously awaiting its first derivation in December.

“So, in December, we will be collecting our first derivation. We cannot wait to see a lot of oil…

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