By Solomon OKPO
Akwa Ibom State has recently suffered a decline in oil revenue earnings, dropping from the second-highest recipient of 13% derivation funds to the fourth, now trailing Delta, Bayelsa, and Rivers States.
While this revenue drop is already a concern, the situation took a new twist when Cross River State Governor, Bassey Otu, announced plans to reclaim the 76 oil wells awarded to Akwa Ibom through a 2012 Supreme Court judgment.
Ordinarily, this matter should have been settled, as the apex court ruled that Cross River lost its status as a littoral state following the ceding of Bakassi to Cameroon. However, in Nigeria, court judgments are not always the final word.
Governor Otu has publicly stated his determination to retrieve the oil wells, insisting they were wrongly ceded to Akwa Ibom. More alarming is his claim that while the dispute lingers, Akwa Ibom is also not receiving revenue from these wells, as proceeds are allegedly being held in an escrow account. If true, this revelation raises serious questions: Has Akwa Ibom been deprived of its rightful earnings for 13 years? Why has the state government remained silent?
Governor Otu’s persistence is not new. He made this a campaign issue and has since reiterated it multiple times. Yet, despite these pronouncements, the Akwa Ibom State Government has remained mute. No official statement has been made, leaving the people in the dark.
Silence at this time is dangerous. Governor Otu’s move could set a precedent for other neighboring states to stake claims on Akwa Ibom’s offshore assets, especially as the state has been slow in asserting its authority over Total Energies’ OML 99, 100, and 102 assets.
This is not a time for Governor Umo Eno to be complacent. He must act decisively, address the people, and make it clear that Akwa Ibom will not allow its resources to be taken away.
