FAAC: How FG, 36 States Shared N2.56trn In 6 Months

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Minister of Finance, Mrs. Kemi Adeosun

The federal government and 36 states of the federation including the Federal Capital Territory (FCT) have so far received the sum of N2.56 trillion in the first half of 2017 from the Federation Account Allocation Committee (FAAC) as monthly allocations, investigation by Economic Confidential magazine has revealed.

According to a press statement issued yesterday in Abuja by PRNigeria, computations by the economic intelligence magazine show that apart from the Federal Government that got a total N1.09tr in the period under review, Akwa Ibom state has the highest allocation among the states as it received the sum of N92.72bn within the same period with nine other states trailing it behind.

The states are Lagos with N91.45bn; Rivers – N81.41bn;  Delta got N71.98bn; Kano received N62.90bn, while Bayelsa took home N61.45bn from January to June, 2017.

Others in the first 10 are Katsina state in the seventh position garnering N44.80bn, Oyo got N43.78bn, Kaduna took 9th position with N42.60bn and Borno state got N39.63bn.

The computations further reveal that the states with the lowest allocations from the Federation Account in the period under review are Kwara with N26.48bn, Ekiti got N25.57bn, Nasarawa came 34th with N25.41bn, Ebonyi  got N24.91bn, and Gombe came last with the least allocation of N24.87bn.

Meanwhile, a graphical look at the six geopolitical zones in the country in relation to the computation shows that the South-South states put together got the first position in the Federal Allocation Table within the period under review with a total N368bn, the North-West zone came second with the sum of N283bn, and the South-West states got the third position with N262bn.

Also, the North-Central zone got a total N190bn to stand at the fourth position, while the fifth and the sixth positions went to North-East and South-East zones with the sums of N189bn and N154.7bn respectively.

“The Economic Confidential has been at the forefront of dishing out Federation Account allocations figures of all tiers of government for the benefit of Nigerians in the last decade,” the statement added.

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Hamilton Nwosa

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