Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
Nigeria's naira hits a new low of N1,600/$1, facing a steep decline as President Tinubu's economic measures struggle to stabilize the economy amidst rising inflation and policy challenges.
Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
Nigeria has launched its 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater, as crude and condensate output rises to 1.82 million barrels a day.
Residents of Oke Sefu community in Ibafo, Ogun State, are appealing to the state government to repair a flooded, pothole-ridden access road that has disrupted livelihoods.