By Emmanuel Iheaka

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has said the ongoing verification of oil and gas wells across the country is aimed at ensuring equitable distribution of the 13 per cent derivation fund among producing states.

The Chairman of the Commission and Chairman of the Executive Committee of the Inter-Agency Technical Committee (IATC), Dr. Mohammed Shehu, stated this in Owerri, Imo State, during the flag-off of a field verification exercise covering disputed and newly drilled crude oil and gas wells.

Shehu said the commission was constitutionally empowered to ensure the equitable disbursement of the 13 per cent derivation fund to oil and gas-producing states.

He explained that the reconstituted IATC convened in Owerri to formally commence the verification exercise covering disputed and newly drilled crude oil and gas wells from 2017 to date.

According to him, the committee’s terms of reference include examining and verifying the coordinates of disputed and newly drilled oil and gas wells, conducting physical inspections of the affected wells and ensuring the accurate plotting of verified coordinates.

He said the committee was also mandated to ensure that only approved maps were used in plotting coordinates and that relevant court decisions were considered in resolving disputes involving oil and gas wells.

Other responsibilities, he said, include submitting its findings and reports exclusively to RMAFC for ratification and adoption, as well as addressing other related matters arising from its field operations.

Shehu described the exercise as a crucial step towards ensuring statutory accuracy, technical reliability and fiscal equity in the Federation Account allocation framework.

He said the determination of the exact coordinates and geographical positions of oil and gas wellheads directly affected the legal and financial entitlements of the respective sub-national entities.

The RMAFC chairman consequently charged all technical officers deployed for the exercise to carry out the national assignment with diligence, technical precision and professionalism.

He stressed that every verified coordinate, technical assessment and physical observation made during the exercise must be capable of withstanding rigorous statutory scrutiny.

Shehu further directed that the harmonised technical report be submitted exclusively to the commission for administrative processing and formal adoption.

Oil wells verification to ensure fair sharing of 13% derivation fund — RMAFC

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