RMAFC reopens disputed oil wells verification after states’ complaints

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has announced the reopening of verification of disputed oil and gas wells after states expressed concerns over an earlier exercise. The commission discarded the previous draft verification report following complaints from states about the accuracy of the coordinates and locations of disputed and newly drilled oil and gas wells.

The reconstituted Inter-Agency Technical Committee, established to verify these wells, aims to ensure equitable distribution of the 13 percent derivation revenue among oil and gas-producing states. The verification process will be conducted by a technical team and an Executive Committee led by RMAFC leadership.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.