How states shared N593.1bn in 3 months –FGThe Sun News

May 14, 2018 3:03 AM

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The 36 states of the Federation have so far withdrawn about N593.1 billion from the Federation Account, as revenue generated in the first quarter of 2018.

The breakdown was contained in the monthly Federation Account Allocation Committee (FAAC) report obtained by the News Agency of Nigeria (NAN), in Abuja, on Sunday.

Key agencies that remit funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the Nigeria Custom Service (NCS).

In January, the 36 states shared N196.99 billion, in February, N195.25 billion and N200.86 billion in March.

The report showed that before distribution, state liabilities were deducted.

The other deductions cover National Water Rehabilitation Projects, National Agricultural Technology Support, Payment for Fertilizer, State Water Supply Project, State Agriculture Project and National Fadama Project.

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.

Similarly, Katsina’s share from the federation account in three months was N13.99 billion, Kebbi, N12.78 billion, Kogi, N12.39 billion, Kwara, N10.62 billion, Lagos, N29.99 billion, Nassarawa, N11.18 billion and Niger, N13.44 billion.

The FAAC comprises commissioners of Finance and Accountants General from the 36 states of the federation.

Other members are representatives from the Federal Inland Revenue Service; the Nigerian Custom Service; Revenue Mobilisation, Allocation and Fiscal Commission as well as the Central Bank of Nigeria.

The federation account is currently being managed on a legal framework that allows funds to be shared to the three tiers of government under three major components.

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Source: sunnewsonline.com

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