A new report by the Economic Confidential has disclosed that the Federal Government, 36 states and the 774 local government councils in Nigeria shared a total sum of N5.9 trillion from the Federation Account in 2017 in spite of the economic recession witnessed during the period.
While the Federal Government and its agencies received a total sum of N2.5 trillion, the other tiers of government shared N3.3 trillion..
The total allocation of N3.3 trillion to States and their Local Government Councils is N700 billion above the N2.6 trillion they received in the previous year.
In its annual detailed investigative report with a table of figures, the Economic Confidential disclosed that among the state recipients, Lagos is ranked first as the highest recipient of gross allocation with a total sum of N201 billion in the 12 months of 2017.
It is followed by Akwa State, N197 billion; Rivers State, N178 billion; Delta State, N175 billion; and Kano State, N143 billion.
The five states cornered over 25 per cent of the total allocation for the States and local government councils in Nigeria.
Among the 10 highest recipients from the Federation Account are Bayelsa State, which got N138 billion; followed by Katsina State, N103 billion; Oyo State, N101 billion; Kaduna State, N98 billion; and Borno State, N92 billion.
The lowest recipients are Gombe and Ebonyi States that got N57 billion each, followed by Ekiti and Nasarawa States with N59 billion each and Kwara State, N61 billion.
The report further disclosed that Edo and Ondo States, which are oil-producing states, got N75 billion and N85 billion respectively, while another state in the South South, Cross River State, received N68 billion.
The Economic Confidential, Nigeria’s intelligence economic magazine, gathered that factors that influence allocations to states and local government councils from the Federation Account include: Population, Derivation, Landmass, Terrain, Revenue Effort, School Enrolments, Health Facilities, Water Supply and Equality of the beneficiaries.
The Economic Confidential, which is circulated at the monthly meeting of the Federation Account Allocation Committee, has been publishing the monthly Federation Account Allocation figures since January 2007.
It also publishes the Annual States Viability Index, which measures the survival of States on Internally Generated Revenue without relying on Federally Collected Revenues, especially from the Federation Account.
The magazine is a sister publication of PRNigeria, a news release syndication platform.
The weblink to the story: Bumber Federation Account: https://economicconfidential.com/featured-post/federal-account-allocations-2017/
Table of Federation Account Allocation January to December 2017 https://economicconfidential.com/wp-content/uploads/2018/02/Econ-Faac-January-December-2017-PDF.pdf
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