How FG, states, LGs shared N1.75trn in Oct

Posted by admin Latest Politics, State News Monday, November 14th, 2011

FOR the third time this year, the monthly allocation to federal, state and local governments from the federation and other special accounts again skyrocketed, as the three tiers of government shared N1.75 trillion allocations in October.

The bumper allocation was arrived at after states rejected earlier allocations to them by the Federation Allocation Account Committee (FAAC), as a result of alleged unauthorised unilateral deductions from the accounts by the Federal Government.

The deduction done in early November was deployed to enable civil servants to receive their salaries before the Sallah break, a decision that did not go down well with members of FAAC, comprising the finance commissioners and accountants-general from all the 36 states.

According to an online business magazine, Economic Confidential, the October allocation, which was done in both naira and dollar, included N1 trillion and an additional special grant of 500 million United States Dollars (N75 billion).

After some statutory deductions, the net highest recipients of naira components are from the oil-producing states. Rivers State received N22.4 billion; Akwa Ibom N21.9 billion, Delta 21.8 billion and Bayelsa N13.7 billion.

The highest recipients from non-oil-producing states are Lagos N16.4 billion and Kano N13.5 billion.

Similarly, the highest recipients from dollar components are Akwa Ibom $22 million; Rivers $22 million; Bayelsa $16 million; Delta $10 million; and Kano $10 million.

The lowest recipients on the naira component with less than N5.6bn are Nasarawa, Ebonyi and Ekiti states.

Ebonyi, Edo, Ekiti, Enugu, Gombe, Kwara, Nasarawa and Zamfara states got the minimum for the dollar component with each raking in less than $5 million each.

-Tribunewp_posts