Ignore Speculations on13% Derivation Arrears, Says A’Ibom Govt
Okon Bassey in Uyo
The Akwa Ibom State Government has stated that there is no cause for alarm on the finances of the state as a result of the 13 per cent derivation arrears.
The State Commissioner for Finance, Mr. Nsikan Linus Nkan, in a statement issued during the weekend, urged members of the public to ignore the various figures bandied around on various platforms, as they were nothing more than fiction.
Nkan said that the Akwa Ibom State Governor, Mr. Udom Emmanuel, is conscious of the judgment of history and posterity and is doing everything to earn a copious mention on its golden pages.
The statement, which was titled “13% Derivation Arrears: The Truth,” explained that due to the large amount involved and the inability of the federal government to pay all at once, it was agreed that the payments be made in tranches quarterly, over a period of five years.
It said: “In line with statutory public finance management procedures, the amounts accruing to, and received by the state, were duly reflected in the 2021 budget and the supplementary budget of the same year.
“In the current financial year, the expected refund from this subhead has been duly captured in the budget. Additionally the Accountant General’s Report of 2021 has declared without any ambiguity the sum which was received as refund from the 13 per cent derivation arrears.
“With the implementation of the International Public Sector Accounting System (IPSAS), it is impossible for any unaccounted expenditure to occur.
“It is also worthy to point out that the state’s budgets and annual reports must first be reviewed by the World Bank and it is practically impossible that financial infractions can skip their attention.
“This is the reason why knowledgeable stakeholders in the national public finance space have greatly commended the government of our state under Governor Udom Emmanuel for deepening financial transparency in the administration of the state.
“The latest of such commendations came recently from the Consul General of the United States, who not only commended the government but also committed to increased partnership with the state in this respect.
“It is the avowed commitment of this administration, under the capable leadership of Governor Udom Emmanuel, to ensure judicious and justifiable application of scarce resource to provide for the innumerable needs of the great people of our state.”
