A new report by the National Bureau of Statistics (NBS) on Tuesday morning gave a breakdown of the distribution of the country’s N426.88 billion shared by the Federation Account Allocation Committee (FAAC) collected in November 2016.
The amount which was shared in December to the three tiers of government, according to the report, “comprised of N240.12 billion from the Statutory Account; N38.85 billion from exchange gain; N66 billion from Excess Petroleum Product Tax (PPT) Account; N75.58 billion from Valued Added Tax (VAT), while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC).”
While the Federal government received a total of N163.59 billion or 38.08%, the 36 states received a total of N110.53 billion or 25.89%, with the lion’s share going to oil bearers- Rivers, Delta and Akwa Ibom, as well as Lagos, whose revenue was boosted by Value Added Tax collections.
Rivers hauled N9.701 billion in total net collected amount; followed by Lagos with N6.406 billion; Akwa Ibom received N5.375 billion; Delta, N6.324 billion; and Bayelsa, N6.288 billion. Besides Lagos, another non-oil states that went home with huge allocations were Kano, N4.258 billion. All six states received a total of N38.352 billion or 8.98% States with the least takings included Ekiti, N1.45 billion; and Gombe N1.593 billion.
Oil bearing states like Edo received N1.958 billion, much more than Cross River’s N1.262 billion, which was surpassed by the Federal Capital Territory’s N1.47 billion.
The 774 local governments in the country also received a total of N82.64 billion.
The share of oil producing states was boosted by N26.42 billion shared among them as 13% derivation fund; while N33.67bn transferred to the Excess Petroleum Product Tax
(PPT) Account.