The Federal Government, the 36 states and their
local government areas have so far shared N1.4 trillion from the
federation account, being revenue generated in the first quarter of
2017.
The breakdown is contained in the monthly Federation Account
Allocation Committee (FAAC) report obtained by the News Agency of
Nigeria (NAN) on Sunday in Abuja.
The key agencies that remit funds
into the federation account are the Nigerian National Petroleum
Corporation (NNPC), the Federal Inland Revenue Service and the Nigerian
Customs Service
The total revenue shared in January between the
federal, states and local government was N430.16 billion, meaning that
federal took N168 billion, states, N114.28 billion and local government,
N85.4 billion.
The federation grossed in N514 billion in February
and federal government’s share was N200.6 billion, states, N128.4
billion and local government, N96.52 billion.
However, in March,
revenue generation dipped lower, grossing N466.9 billion, and from it,
the federal government got N180.5 billion, state governments, N116.5
billion and local government, N87.5 billion.
The allocation was made
using the revenue sharing formular, Federal Government, 52.68 per cent;
states, 26.72 per cent and local governments 20.60 per cent.
The report showed that before distribution, state liabilities were deducted.
The liabilities paid by the states in the first quarter, included an
external debt of N8.73 billion, contractual obligations of N30.15
billion and other deductions amounting to N50.23 billion.
The other
deductions, covers National Water Rehabilitation Projects, National
Agricultural Technology Support, Payment for Fertiliser, State Water
Supply Project, State Agriculture Project and National Fadama Project.
However, here is what each of the 36 states got in the first quarter after all deductions were made.
Abia N8.42 billlion, Adamawa N7.8 billion, Akwa Ibom N34.88 billion, Anambra, N8.7 billion, Bauchi, N7.9 billion, Bayelsa, N22.97 billion, Benue, N8.16 billion, Borno, N9.74 billion and Cross River, N4.28 billion.
Abia N8.42 billlion, Adamawa N7.8 billion, Akwa Ibom N34.88 billion, Anambra, N8.7 billion, Bauchi, N7.9 billion, Bayelsa, N22.97 billion, Benue, N8.16 billion, Borno, N9.74 billion and Cross River, N4.28 billion.
Also, Delta got N21.54 billion, Ebonyi, N7.56 billion, Edo,
N6.5 billion, Ekiti, N4.97 billion, Enugu, N7.86 billion, Gombe, N6.35
billion, Imo, N7.92 billion, Jigawa, N9.66 billion, Kaduna, N10.56
billion and Kano, N14.02 billion.
Similarly, Katsina’s share from
the federation account in 3 months was N10.05 billion, Kebbi, N8.37
billion, Kogi, N8.28 billion, Kwara, N6.9 billion, Lagos, 19.03 billion,
Nassarawa, N7.41 billion and Niger, N9 billion.
Finally, Ogun state
got N4.98 as allocation for first quarter, 2017, Ondo,N10.22 billion,
Osun, N1.76 billion, Oyo, N8.9 billion, Plateau, N5.7 billion, Rivers,
N26.8 billion, Sokoto, N9.07 billion, Taraba, N6.9 billion, Yobe, N8.33
billion, and Zamfara, N5.91 billion.
NAN reports that the FAAC
committee is made up of commissioners for Finance and
Accountant-Generals from the 36 states of the federation.
The
Minister of Finance, is the chairman of the committee, while the
Accountant-General of the Federation, is next with representatives from
the NNPC.
Other members are representatives from the Federal Inland
Revenue Service; the Nigerian Customs Service; Revenue Mobilisation,
Allocation and Fiscal Commission as well as the Central Bank of Nigeria.
The federation account is currently being managed on a legal framework
that allows funds to be shared to the three tiers of government under
three major components.
These components are the statutory allocation, Value Added Tax distribution; and allocation made under the derivation principle.
Source..The GlobalSearch
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