Business
RMAFC Flags Off Historic Plotting of Disputed, Newly Drilled Oil and Gas Wells Across Producing States
Joel Ajayi
The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. M. B. Shehu, OFR, on Monday formally flagged off the plotting of coordinates of disputed and newly drilled oil and gas wells across affected oil-producing states, marking a significant milestone in Nigeria’s revenue management and resource governance framework.
The exercise, scheduled to run from January 26 to 30, 2026, follows the verification process conducted by the Inter-Agency Technical Committee (IATC), which collated data from the affected states on disputed and newly drilled oil and gas wells.
Speaking at the flag-off ceremony on Monday in Abuja Dr. Shehu described the exercise as a historic and strategic intervention that would strengthen transparency, fairness, and equity in the distribution of oil and gas revenue in the country.
He explained that RMAFC derives its authority from Paragraph 32(a) of Part I, Third Schedule of the 1999 Constitution (as amended), which empowers the Commission to monitor accruals and disbursement of revenue from the Federation Account, including ensuring the equitable distribution of the 13 per cent Derivation Fund among oil- and gas-producing states.
In line with this constitutional mandate, the Commission inaugurated the Inter-Agency Technical Committee (IATC), comprising the National Boundary Commission (NBC), the Office of the Surveyor-General of the Federation (OSGoF), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and RMAFC.
According to the Chairman, the Committee was tasked with verifying and plotting the coordinates of disputed and newly drilled oil and gas wells in affected states. While the verification phase has been completed, the plotting exercise now underway is expected to determine the precise locations of the wells and ensure that new oil and gas assets are properly attributed to their rightful states.
Dr. Shehu called on representatives of the affected oil-producing states to participate actively in the process to guarantee transparency, credibility, and collective ownership of the outcomes.
“The Commission will remain an unbiased umpire and will continue to uphold justice, equity, and fairness in the discharge of this responsibility,” he assured.
He further expressed appreciation to the affected states for their cooperation during the verification phase, noting that inter-agency collaboration and stakeholder engagement remain critical to resolving disputes and strengthening confidence in Nigeria’s revenue allocation system.
The plotting exercise is widely seen as a major step toward resolving long-standing disputes over oil and gas well locations, promoting peace among oil-producing states, and ensuring fairness in the distribution of derivation funds across the federation.
Agriculture
PULA, Leadway Assurance Disburse ₦396 Million to Climate-Affected Farmers, Strengthen Food Security Efforts
In a major intervention to shield smallholder farmers from climate shocks, agri-insurtech firm PULA has spearheaded the disbursement of ₦396,697,672 in insurance claims to over 40,000 farmers impacted during the 2025 wet season.
The payout, executed in partnership with Leadway Assurance and supported by the Presidential Food Systems Coordinating Unit (PFSCU), covered farmers across Taraba, Borno, Kaduna, and Plateau States who suffered climate-related losses.
The initiative was made possible in part by Bayer Foundation, whose $450,000 premium subsidy support in 2025 wet season helped lower the cost of insurance for thousands of vulnerable smallholders in 8 states, with 4 states receiving payouts. The Foundation is set to scale up its contribution to match the growing aspirations of state governments.
Speaking at the cheque presentation ceremony in Abuja during the 2025 Wet Season Insurance Claims Payout under the National Agribusiness Planning Mechanism (NAPM), PULA’s Nigeria Country Director, Dr. Michael Enahoro, said the initiative goes beyond compensation, insisting that it’s about securing Nigeria’s food systems.
“Our focus is not just on payouts but on increasing food production. We must continue to support farmers who work tirelessly under harsh conditions to feed the nation,” Dr. Enahoro said. He called for stronger policies that directly impact farmers and reaffirmed PULA’s commitment to expanding agricultural insurance as a tool for resilience.
PULA’s data-driven approach to climate risk was key to identifying affected farmers and triggering payments. The company worked with Leadway Assurance to underwrite the risk, while PFSCU aligned the program with the national food security agenda. State governments also supported grassroots enrollment.
Gboyega Lesi, MD/CEO of Leadway Assurance, described the payout as “a reinforcement of a safety net that protects the hard work of thousands of farmers,” adding that “through climate insurance, we ensure that a bad season does not translate into total loss of livelihood.” He commended PULA’s technology and field structure for making rapid, transparent payouts possible.
Ayoola Fatona, Global Head of Agric Solutions at Leadway Assurance, noted that the 2025 wet season brought significant climate variability and yield fluctuations. “The true value of insurance lies in claims payment, especially in challenging periods. Our data-driven partnership with PULA helped mitigate losses,” he said.
Looking ahead, PULA and Leadway Assurance plan to scale coverage to 73,000 farmers in the 2026 farming season, deepening penetration of climate insurance across Nigeria’s food-producing belts.
Commissioners from the beneficiary states commended PULA and Leadway Assurance for de-risking agriculture, restoring farmers’ confidence, and building a more resilient agricultural sector
State-by-state breakdown of claims facilitated by PULA:
- Taraba State: ₦154,308,035
- Borno State: ₦127,192,472
- Kaduna State: ₦69,726,150
- Plateau State: ₦45,471,015
Total: ₦396.7 million.
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