Rivers, Bayelsa, Akwa Ibom sue FG over N500trn revenue loss

Kemi Adeosun

Court fixes Nov 14 for hearing Rivers, Bayelsa and Akwa Ibom states yesterday dragged the Federal Government before the Supreme Court to challenge the loss of N500 trillion oil revenue to oil companies operating in Nigeria due to negligence in the execution of oil production contract. The states are asking the apex court to compel the Federal Government to implement section 162 of the 1999 constitution as it relates to oil revenue generation and sharing among the component parts of the federation. In the originating summons, the plaintiffs through their…

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