Records from the Federation Accounts Allocation Committee (FAAC), released by the Office of the Accountant-General of the Federation, contradict Governor Umo Eno's statements claiming that Akwa Ibom has not received its statutory 13 percent derivation fund since September 2025.
On Sunday, March 1, during a prayer gathering at the Government House in Uyo, Mr. Eno declared that the state halted its receipt of oil derivation revenue effective September 2025.
However, an examination of the FAAC disbursement reports by PREMIUM TIMES reveals that between September and December 2025, Akwa Ibom was allocated a total of N119.82 billion as its share of the 13 percent derivation, not accounting for other derivation-related refunds shared with oil-producing states.
September Allocation
FAAC documents indicate that Akwa Ibom received N36.95 billion as its 13 percent derivation share in September 2025.
Additionally, several derivation refunds were shared among oil-producing states, including N150 billion for 13 percent derivation refunds on NLNG proceeds, N100 billion refunded for withdrawals from Joint Venture Cash Calls and Deferred Cash Calls, N18.16 billion as 13 percent refunds related to subsidy and priority projects, and N6.59 billion for 13 percent derivation concerning NNPC Ltd. management fees and the Frontier Exploration Fund for May 2025.
October Allocation
In October 2025, FAAC records documented an allocation of N26.23 billion as derivation funds to Akwa Ibom.
Other derivation refunds shared with oil-producing states during October included N18.16 billion for subsidy and priority project refunds and N20.52 billion concerning NNPC Ltd. management fees and the Frontier Exploration Fund for August 2025.
November Allocation
November 2025 saw Akwa Ibom receiving N27.42 billion as its share of the 13 percent derivation.
Additional refunds among the Niger Delta states included N21.48 billion related to NNPC Ltd. management fees and the Frontier Exploration Fund for August 2025, alongside N18.16 billion as refunds on subsidy and priority projects.
December Allocation
For December 2025, Akwa Ibom received N29.22 billion from FAAC as derivation funds.
Moreover, oil-producing states received N18.16 billion as refunds on subsidy and priority projects and N2.87 billion concerning NNPC Ltd. management fees and the Frontier Exploration Fund for August 2025.
Analysis of FAAC Documents
A thorough review of FAAC documents shows that Akwa Ibom obtained a total of N119.82 billion from its statutory 13 percent derivation between September and December 2025, excluding other derivation refunds allocated to oil-producing states during the same timeframe.
The discrepancy between Governor Eno’s assertions and FAAC documentation raises concerns regarding the accuracy and fiscal accountability of the Akwa Ibom State Government. This unease is intensified by the absence of a comprehensive budget performance report for 2025 from Eno’s administration, which could clarify the state's total derivation receipts and refunds in its financial records during the considered period.
Request for Clarification
PREMIUM TIMES reached out to Emem Bob, the Commissioner for Finance of Akwa Ibom State, seeking clarity on the situation.
Inquiries included whether the governor's statement was indeed correct and, should it be true that the state ceased receiving derivation funds post- September 2025, what rationale the federal government provided, especially since other oil-producing states have received theirs without objection. However, there was no response from the commissioner’s office as of the time this report was compiled.
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