How FG, states shared N2.56 trillion in six months

Monday, 21 August 2017 02:34

How FG, states shared N2.56 trillion in six months – Report

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The federal government, thirty-six states of the federation and Federal Capital Territory, FCT, have so far shared the sum of N2.56 trillion in the first half of 2017 from the Federation Account Allocation Committee (FAAC), an investigation by Economic Confidential has revealed.

The report by the economic intelligence magazine shows that apart from the federal government that got N1.09 trillion, Akwa Ibom has the highest allocation among the states when it received N92.72 billion within the period under review.

Apart from Akwa Ibom, nine other states who received the largest allocations are Lagos with N91.45 billion, Rivers comes third with N81.41 billion. The fourth position was grabbed by Delta with N71.98 billion, while Kano State got the fifth place with N62.90 billion, throwing a derivation state of Bayelsa to the sixth position with N61.45 billion.

Others among the first ten are Katsina State in the seventh position garnering N44.80 billion, Oyo hits number eight with N43.78 billion, Kaduna manages with number nine position with N42.60 billion and the tenth place surprisingly goes to Borno State, with N39.63billion despite the calamities that have befallen the North-eastern state.

Economic Confidential search further reveals that the states with the lowest allocation from the Federation Account within the period under review are Gombe on the 36th position with N24.87 billion, followed by Ebonyi State with N24.91 billion in the 35th position, Nasarawa State in the 34th position with N25.41 billion. While Ekiti and Kwara states took the 33rd and 32nd positions respectively with N25.57 billion and N26.48 billion.

In terms of geo-political zones, the findings show that the six states in the south-south zone got more than double what the five states in the south-east got within the period.

South-south states put together got N368 billion; North-west took the second position with N283 billion, sending South-west states to the third position with N262 billion.

North-central geopolitical zone got N190 billion to stand at the fourth position, while the fifth and the sixth positions went to North-east and South-east with N189 billion and N154.7 billion respectively.