By Moshood Adebayo
Lagos State governor, Akinwunmi Ambode said yesterday that discovery of crude oil in the state will make government deliver more dividends of democracy to Lagosians.
Like other oil producing states, he said Lagos will also demand payment of 13 per cent derivation revenues from the Federal Government.
Ambode spoke when the management of Tunde Folawiyo Petroleum Company Limited, paid him a courtesy visit at the Lagos House, Ikeja.
While commending the resilience of the company, the governor noted that Lagos will start to partake in the 13 per cent derivation as a result of the firm’s 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 per cent derivation. So all we need do is to apply and then we join.
“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 per cent derivation that is due to oil producing states,
“It also means that by the additional revenue that is coming from this action, we would have more resources to provide infrastructure for Lagosians and this is what we want other investors and businessmen to emulate, so that beyond the issue of profit, you are actually creating impact on people without them necessarily knowing that it is actually coming from a venture like this that you have embarked on,” he said.
Mr. Folawiyo, said the discovery of crude oil in the state spanned over 25 years and commended the state government for its assistance and support.