How states shared N593.1bn in 3 months –FG

The 36 states of the Federation have so far withdrawn about N593.1 billion from the Federation Account, as revenue generated in the first quarter of 2018.

The breakdown was contained in the monthly Federation Account Allocation Committee (FAAC) report obtained by the News Agency of Nigeria (NAN), in Abuja, on Sunday.

Key agencies that remit funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the Nigeria Custom Service (NCS).

In January, the 36 states shared N196.99 billion, in February, N195.25 billion and N200.86 billion in March.
The allocation was made using the revenue sharing formular –the Federal Government got 52.68 per cent; states, 26.72 per cent while local governments got 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 external debts, contractual obligations and other deductions.

The other deductions cover National Water Rehabilitation Projects, National Agricultural Technology Support, Payment for Fertilizer, State Water Supply Project, State Agriculture Project and National Fadama Project.
This is what each of the 36 states got in the first quarter of 2018, after deductions: Abia (N13.09 billlion); Adamawa (N11.82 billion); Akwa Ibom (N50.88 billion); Anambra (N13.01 billion); Bauchi (N13.04 billion); Bayelsa, N38.89 billion; Benue (N12.98 billion); Borno (N14.82 billion) and Cross River (N8.41 billion).

Delta got N49.43 billion, Ebonyi, N10.73 billion, Edo, N15.86 billion, Ekiti, N8.75 billion, Enugu, N12.27 billion, Gombe, N10.17 billion, Imo, N12.72 billion, Jigawa, N14.2 billion, Kaduna, N16.15 billion and Kano, N19.65 billion.

Similarly, Katsina’s share from the federation account in three months was N13.99 billion, Kebbi, N12.78 billion, Kogi, N12.39 billion, Kwara, N10.62 billion, Lagos, N29.99 billion, Nassarawa, N11.18 billion and Niger, N13.44 billion.

Finally, Ogun State got N9.4 billion, Ondo, N15.27 billion, Osun, N4.98 billion, Oyo, N13.83 billion, Plateau, N10.15 billion, Rivers, N42.74 billion, Sokoto, N12.43 billion, Taraba, N11.1 billion, Yobe, N12.42 billion, and Zamfara, N9.16 billion.

The FAAC comprises commissioners of Finance and Accountants General from the 36 states of the federation.
The Minister of Finance, chairs the committee, with the Accountant General of the Federation, alongside representatives from the NNPC as members.

Other members are representatives from the Federal Inland Revenue Service; the Nigerian Custom 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.

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