RMAFC re-verifies oil wells to ensure fair 13% derivation fund sharing
RMAFC inaugurated the reconstituted Inter-Agency Technical Committee (IATC) on Saturday, September 19, 2026, to re-verify disputed and newly drilled oil and gas wells from 2017 to date. The committee operates under a two-tier structure: a technical team from RMAFC, the Office of the Surveyor-General of the Federation, the National Boundary Commission, and the Nigerian Upstream Regulatory Commission handles ground verification, field inspections, and initial reporting; an Executive Committee led by RMAFC’s leadership provides strategic oversight and final approval. Surveyors-General from oil-producing states and representatives of the Senate Committee on Petroleum Resources (Upstream) participate as observers to promote transparency.
The exercise aims to ensure equitable distribution of the 13% Derivation Fund among oil-producing states by establishing accurate technical records of wells that qualify for revenue allocation. Currently, six Niger Delta states receive nearly 90% of the N321.90 billion shared by 11 oil-producing states in the first quarter of 2026, according to BudgIT data. Accurate verification could shift allocation patterns, affecting state budgets and development projects across the Niger Delta and other oil-producing regions.
Stakeholders should monitor the committee’s findings, as the verified coordinates and maps will form the basis for future derivation allocations. Will this re-verification lead to a fairer share of oil revenues for your state, or will existing patterns persist?