The federation account allocation committee (FAAC) has released its report on how the three tiers of government shared first quarter’s revenue for 2017.
The report shows that the federal, states and local governments shared N1.4 trillion, being the revenue generated in the quarter.
Akwa Ibom got the highest share of N34.8bn while Osun state received the lowest share of N1.7bn.
A breakdown of the allocation shows what each state received in the first quarter of 2017.
- Abia N8.42bn
- Adamawa N7.8 bn
- Akwa Ibom N34.8bn
- Anambra, N8.7bn
- Bauchi N7.9bn
- Bayelsa N22.97bn
- Benue, N8.16bn
- Borno N9.74bn
- Cross River N4.28bn
- Delta N21.5bn
- Ebonyi N7.56bn
- Edo N6.5bn
- Ekiti N4.97bn
- Enugu N7.86bn
- Gombe N6.35bn
- Imo N7.92bn
- Jigawa N9.66bn
- Kaduna N10.56bn
- Kano N14.02 bn
- Katsina N10.05bn
- Kebbi N8.37bn
- Kogi N8.28bn
- Kwara N6.9bn
- Lagos 19.03bn
- Nassarawa N7.41bn
- Niger N9 bn
- Ogun N4.98bn
- Ondo N10.22bn
- Osun N1.7bn
- Oyo N8.bn
- Plateau N5.7bn
- Rivers N26.8bn
- Sokoto N9.07bn
- Taraba N6.9bn
- Yobe N8.33bn
- Zamfara N5.91bn
The FAAC report indicates that the revenue shared in January between the three parties was N430.16 billion. FG got N168bn, N114.28bn for states and N85.4bn for LGAs.
In February, there was an increase as the allocation was N514bn with FG took N200.6bn; states, N128.4bn while the LGAs got N96.52bn.
However, in March, revenue generation dipped to N466.9bn in which the FG got N180.5bn, states got N116.5bn while LGAs got N87.5bn.
The allocation was done using the revenue sharing formula of 52.68 per cent for federal government, 26.72 per cent for the states and 20.60 per cent is for the local governments.
The key agencies that remit funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the Nigerian Customs Service (NCS).
The report also showed that before distribution, state liabilities were deducted including “an external debt of N8.73bn, contractual obligations of N30.15bn and other deductions amounting to N50.23bn”.
Source: NAN
