An inter-agency committee set up by the Federal Government has recommended the redistribution of 352 oil wells across five oil-producing states, according to findings contained in its latest verification report NEGROIDHAVEN has confirmed.
The report, titled “Report of the Interagency Committee on the Verification of Crude Oil and Gas Wells, Coordinates of Disputed Oil and Gas Fields and Newly Drilled Oil and Gas Wells from 2017 to December 2025,” reportedly proposes 119 oil wells each for Cross River state and Akwa Ibom state.
It also recommends the allocation of 22 oil wells to Anambra State to be shared with Delta State and Bayelsa State, while Delta and Bayelsa states are to receive 92 wells.
The committee’s recommendations were said to be based on the verification of crude oil and gas wells, disputed field coordinates and newly drilled wells between 2017 and December 2025.
According to the report, the President is advised to direct the Revenue Mobilisation Allocation and Fiscal Commission and other relevant agencies to implement the recommendations in line with existing revenue allocation frameworks.
Although details of the methodology used for the verification were not immediately available, the proposed redistribution, if approved, could significantly impact the derivation revenue accruing to the affected states under the 13 per cent oil revenue formula.
Cross River’s proposed 119 wells mark a notable development for the state, which lost its oil-producing status following the 2002 ruling of the International Court of Justice on the Bakassi Peninsula dispute.
The document did not indicate when the recommendations would take effect or whether further legislative or administrative approvals would be required before implementation.
Officials of the affected states had yet to issue formal reactions as of the time of filing this report.
