The President of Nigeria, Muhammadu Buhari through the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), has given the green light for the commencement of production from four wells in Lagos state.

Aliyu Mohammed, the Chairman of the RMAFC Indices and Disbursement Committee, said the group was planning a visit to Lagos to validate the production of crude oil and gas from the Aje oil wells for the payment of the 13% derivation fund.

“It is also important to state that the commencement of oil production from Aje oil field by Yinka Folawiyo Petroleum Company Limited is the first time oil is being produced outside the Niger Delta basin and therefore is of a significance in diversifying the source of crude and gas production in the country,” Mohammed said.

He added that the committee has suggested that the four out of the oil wells in the Aje field falls within 200m isobaths and so therefore, it should be ascribed to Lagos state.

According to the Governor of Lagos state, Akinwunmi Ambode (photo), it is of great importance for the Nigeria economy that the State has appeared as the first oil producing state outside the Niger Delta basin.

“We want to thank the Federal Government, most especially President Muhammadu Buhari for making this to happen very promptly. I want to say that this has been the quickest action that has been taken by RMAFC since I have known the Commission. It gladdens me to say that the institution works and is working for the good of Nigeria,” Ambode told the Herald.

Anita Fatunji