The federal government of Nigeria has officially flagged off the plotting of coordinates for disputed and newly drilled oil and gas wells across affected oil-producing states in the country.
The move, which marks a crucial milestone in the verification process was initiated by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) as parts of its efforts towards resolving the long-standing disputes over oil and gas well locations.
The Chairman of the RMAFC, Dr. Mohammed Shehu, while addressing stakeholders, at the event in Abuja emphasized the constitutional mandate of the Commission under Paragraph 32(a) of Part 1 to the Third Schedule of the 1999 Constitution, which mandates the monitoring of the accruals and disbursement of revenue from the Federation Account. This includes ensuring the equitable distribution of the 13% Derivation Fund to oil and gas-producing states.
“The verification of coordinates is a critical step in ensuring that oil-producing states receive the fair and accurate allocation of resources that they are entitled to. This event signifies our unwavering commitment to resolving all disputes in a transparent and equitable manner,” Dr. Shehu stated.
He also highlighted the importance of the cooperation between all stakeholders, urging representatives of the affected states to actively participate in the plotting of the verified coordinates.
“It is essential that all parties engage fully to ensure that the process remains transparent and that the final outcome is mutually acceptable. We stand as an unbiased umpire, committed to fairness and justice,” he added.
The chairman further expressed gratitude to the oil-producing states for their support during the Inter-Agency Technical Committee. IATC’s verification process, acknowledging that the successful implementation of the project was only possible due to the strong collaboration between the various agencies involved.
The event, which was held in Abuja, saw the active participation of key representatives from the National Boundary Commission (NBC), the Office of the Surveyor General of the Federation (OSGOF), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). These bodies, alongside the RMAFC, constitute the Inter-Agency Technical Committee (IATC) charged with the task of verifying, plotting, and ultimately resolving the issue of disputed oil and gas wells.
The plotting of the coordinates is expected to provide a clear and precise mapping of the contested and newly drilled wells, with a view to resolving the location disputes and ensuring that the rightful owners of these resources are duly recognized.
“This development is set to contribute significantly to the peaceful and equitable management of Nigeria’s oil and gas wealth, which is a major driver of the nation’s economy.”
As the process unfolds over the next few days, the RMAFC Boss reaffirmed commitment to uphold fairness and equity, as Nigeria continues its efforts to strengthen the transparency and accountability of its oil revenue distribution system.