Federal High Court awards Akwa Ibom and Rivers states three billion dollars revenue shares from crude oil sales.

Written by on June 23, 2021

A Federal High Court in Abuja has ordered the Federal Government to pay over 3 billion dollars to Rivers and Akwa Ibom states, as part of their revenue shares from crude oil sales.
The amount formed part of the 62 billion dollars said to have been recovered from some oil companies by the Federal Government.
Delivering the judgement, Justice Taiwo Taiwo stated that the refusal of the Federal Government to defend the case when served with the court processes amounted to an admission of the monetary claim by the states.
Justice Taiwo held that although, the AGF office attempted to withdraw the press statement, the issue of the huge revenue generation was not addressed.

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