Ambode officially declares Lagos as an oil producing state

The Lagos State Governor, Akinwunmi Ambode, on Monday declared that Lagos has officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil by Tunde Folawiyo Petroleum Company Limited in Badagry, Lagos, Premium Times reports.

Governor Ambode, who made the declaration when the management of the company led by the Group Managing Director, Tunde Folawiyo, paid him a courtesy visit at the Lagos House, Ikeja, commended the firm for their doggedness to achieve the feat after 25 years of hard work, saying by the provision of Section 162 Sub-Section 2 of the Nigeria Constitution, Lagos has become an oil producing State and had also allowed Lagos to partake of the 13 percent derivation that is due to oil producing states.

Mr. Ambode also said the feat has not only placed Lagos in the history books as the first state outside the Niger Delta to become an oil producing State, but has also opened up a new page for revenue generation in the State. He said the resilience of Tunde Folawiyo Petroleum Company, an indigenous firm, has shown the possibilities and opportunities for investors and businessmen willing to commit their resources to boost local production.