BEVERLY HILLS, May 22, (THEWILL) – The Federal Government, the 36 states and their local government areas shared N1.4 trillion from the federation account in the first quarter of 2017.

The breakdown is contained in the monthly Federation Account Allocation Committee (FAAC) report obtained by NAN.

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 to the federal, states and local government was N430.16 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.

In March, revenue generation dipped to N466.9 billion. 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 formula, 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.

A breakdown of what the state got is as follows:

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.

Read more from the publisher: THEWILL

Copyright & credit exclusively reserved for the publisher, referenced above.
Nigeria Newspapers Online syndicates daily Nigerian news
and updates, sourced from major Nigerian newspaper houses online.
A member of DisNaija network: Everything Naija.

Like, Share, Comment and Tweet. Follow us on Twitter and Facebook.


Adeleke: Coroner Fixes Monday For Verdict
Jilted Lover Bathes Ex-Girlfriend With Acid

Like, Share, or Tweet. Maybe You Have An Opinion, Then Leave Your Comment Below.

Posted on May 23, 2017 - Last updated on May 23, 2017
Facebook Comments

Leave a Comment

Your email address will not be published. Required fields are marked by *.