FAAC records contradict Eno, show Akwa Ibom received N119.82bn derivation funds in four months

Federation Accounts Allocation Committee (FAAC) records published by the Office of the Accountant-General of the Federation contradict claims by Governor Umo Eno of Akwa Ibom that the state has not received its statutory 13 per cent derivation fund since September 2025.

Mr Eno had, during a prayer meeting on Sunday, 1 March, at Government House, Uyo, stated that the state stopped receiving the oil derivation revenue since September 2025.

However, PREMIUM TIMES’ review of FAAC disbursement documents shows that between September and December 2025, Akwa Ibom received N119.82 billion as its 13 per cent derivation allocation, excluding additional derivation-related refunds shared among oil-producing states.

September allocation

FAAC documents show that in September 2025, Akwa Ibom received N36.95 billion as its share of the 13 per cent derivation.

PHOTO: 13 per cent derivation disbursement for September.

In addition, oil-producing states shared several derivation refunds, including: N150 billion as 13 per cent derivation refunds on NLNG proceeds; N100 billion refunded under the subhead of 13 per cent derivation on withdrawals from Joint Venture Cash Calls and Deferred Cash Calls; N18.16 billion as 13 per cent refunds on subsidy and priority projects; and N6.59 billion as 13 per cent derivation in respect of NNPC Ltd management fees and the Frontier Exploration Fund for May 2025.

October allocation

For October 2025, FAAC records indicate that Akwa Ibom received N26.23 billion as derivation funds.

Other derivation refunds shared among oil-producing states during the month included N18.16 billion as 13 per cent refunds on subsidy and priority projects; and N20.52 billion as 13 per cent derivation refund in respect of NNPC Ltd management fees and the Frontier Exploration Fund for August 2025.

November allocation

In November 2025, Akwa Ibom received N27.42 billion as its 13 per cent derivation.

Additional derivation-related refunds shared among the Niger Delta states included N21.48 billion as 13 per cent derivation in respect of NNPC Ltd management fees and the Frontier Exploration Fund for August 2025; and N18.16 billion as 13 per cent refunds on subsidy and priority projects.

December allocation

For December 2025, FAAC documents show Akwa Ibom received N29.22 billion as derivation.

Other refunds shared among oil-producing states included: N18.16 billion as 13 per cent refunds on subsidy and priority projects; and N2.87 billion as 13 per cent derivation in respect of NNPC Ltd management fees and the Frontier Exploration Fund for August 2025.

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Transparency concerns

A cumulative analysis of the FAAC documents indicates that Akwa Ibom received N119.82 billion in statutory 13 per cent derivation between September and December 2025 alone.

The figure excludes other derivation refunds shared among oil-producing states during the same period.

The contradiction between Mr Eno’s claim and the FAAC records raises questions about the accuracy and the Akwa Ibom State Government’s fiscal transparency, especially since Mr Eno’s administration has not published a detailed 2025 budget performance report that could buttress the total derivation receipts and related refunds in Akwa Ibom State’s financial books during the period under review.

Government silent

PREMIUM TIMES contacted the Akwa Ibom State Commissioner for Finance, Emem Bob, for clarification.

In messages sent to the commissioner, this newspaper asked whether the governor’s statement was accurate and, if the state had indeed stopped receiving derivation since September 2025, what explanation the federal government provided—particularly given that other oil-producing states have not disputed receiving theirs.

The commissioner did not respond to calls and text messages as of the time of filing this report.