Lagos is now officially an oil producing state

Good news

Lagos State Governor, Mr. Akinwunmi Ambode (right), receiving a sample of the Crude Oil discovered in the State by the Group Managing Director, Tunde Folawiyo Petroleum Company Limited, Mr. Tunde Folawiyo during a courtesy visit to the Governor, at the Lagos House, Ikeja on Monday, May 16, 2016 as seen below.

Governor Ambode who made the declaration when the management of the company led by the Group Managing Director, Mr. Tunde Folawiyo paid him a courtesy visit at the Lagos House, Ikeja, commended the firm for their doggedness to achieve the feat after 25 years of hard work, saying that by the provision of Section 162 Sub-Section 2 of the Nigeria Constitution, Lagos has become an oil producing State.

He declared, “I want to thank you very much for this and I say it with all conviction because I know that based on section 162 Sub-Section 2 of the Nigeria Constitution, Lagos becomes an oil producing state and by virtue of this, the 13 percent derivation that is due to oil producing states, Lagos will start to partake from it by your very good gesture.

So we officially declare Lagos State as an oil producing state, we also notify the Federal Government by this action that we would be sharing out of the 13 percent derivation. So all we need do is to apply and then we join.”

You won't regret it

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