Akwa Ibom to refund Rivers N140b

Compass

19 March 2011

Akwa Ibom to refund Rivers N140b

AN all-out war looms between Rivers State and its neighbour, Akwa Ibom, as the Supreme Court yesterday ruled on the ownership of some controversial 86 juicy oil wells, to which both of them lay claims.

The apex court held that the oil wells belong to Rivers State and ordered Akwa Ibom to refund about N140 billion to the former.

That is the rough estimate of the sum that Akwa Ibom  had received from the oil wells in the last 23 months, by virtue of a political solution introduced by former President Olusegun Obasanjo to settle the dispute in 2006.