States withdrew N593bn from federation account in 3 months

The 36 states of the federation drew about N593.1 billion from the Federation Account as their share of the revenue generated in the first three months of 2018. Each state withdrawal is reflected in the monthly Federation Account Allocation Committee (FAAC) report. A cursory look at the figures indicate that the three revenue generating agencies that remitted funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service and the Nigerian Custom Service.

According to the compiled figure of allocation by the Federation Account Allocation Committee in January, the 36 states of the federation shared N196.99 billion, in February, N195.25 billion and N200.86 billion in March. The allocation was made using the existing revenue sharing formula, of Federal Government, 52.68 per cent; states, 26.72 per cent and local governments 20.60 per cent. The figures further  showed that before distribution, state liabilities were deducted. The liabilities paid by the states in the first quarter, included external debt, contractual obligations and other deductions. The other deductions covers National Water Rehabilitation Projects, National Agricultural Technology Support, Payment for Fertilizer, State Water Supply Project, State Agriculture Project and National Fadama Project.

The break down of state by state drawdown from the federation account in the three months are as Abia N13.09 billion, 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.

In the same vein, Katsina’s share from the account in the three months period was N13.99 billion, Kebbi, N12.78 billion, Kogi, N12.39 billion, Kwara, N10.62 billion, Lagos, 29.99 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.