How states, LGs shared N8.8trn — NEITI
Oboh
The 36 states of the federation, the Federal Capital Territory, FCT, and the 774 local government councils in the country received N8.79 trillion in 2020 and 2021 as Federation Account allocations.
A report by the Nigeria Extractive Industries Transparency Initiative, NEITI, released last week gave the figures.
The Fiscal Allocation and Disbursements Audit, FASD, report showed that revenue includes income gross statutory allocations, value added tax and 13 percent derivation for mineral-producing states.
According to NEITI, in terms of geo-political zone allocations, the South-South received the highest allocation with N2.59 trillion or 29.53 per cent of the total revenue shared to the federating units.
The huge number was a result of the 13% derivation revenue allocated exclusively to nine oil-producing states. Five of them are from the South-South geopolitical zone.
For the other zones, North-West N1.56 trillion or I7.85 per cent. South-West got N1.28 trillion or 14.57 per cent; North-Central, N1.26 trillion or 14.39 per cent and North-East, 12.71 per cent for the period under review.
South-East had the lowest allocation, which accounted for N963 billion or 10.96 per cent of the total allocation.
In the South-South Zone Delta State, with N372.07 billion, received the highest allocation, followed by Rivers with N298.68 billion and Akwa Ibom with N281.78 billion.
Cross River had the least allocation with N66.83 billion during the years under review.
Kano, Lagos
Kano State received the highest allocation with N163.41 billion in the North-West Zone. This was followed by Kaduna with N130.02 billion and Katsina with N123.09 billion. Zamfara State got N84.81 billion, the least allocation for the years under review.
In the South-West zone, Lagos State received the highest allocation with N243.58 billion for the period under review. This was followed by Oyo with N117.93 billion and Ondo with N95.98 billion. Osun received
N64.19 billion, the least allocation.
The FCT in the North Central Zone received the highest allocation with N112.77 billion. Borno State received the highest allocation in the North East Zone with N122.49 billion.
In the South East zone, Imo State received the highest allocation with N113.45 billion in the period under review.
NNPC
The report showed that total sales of oil and gas by the Nigerian National Petroleum Corporation, NNPC, during the period under review was N5.49 trillion.
However, total receipts during the same period was N6.05 trillion.
The difference of N0.56 trillion was attributed to the cost of collection from the prior period sales.
Credit: Vanguard News
