Buhari Inherited Empty Treasury: States, Local Govt Got N2.8trn In President’s First Year


A new report has disclosed that the 36 states and the 774 local government councils in Nigeria shared N2.8 trillion from the Federation Account in the one year of President Muhammadu Buhari’s administration.

An exclusive report by the Economic Confidential, an intelligence economic magazine, disclosed that the total figure was payment made to the two tiers of government between June 2015 and May 2016 at the monthly meeting of the Federation Account Allocation Committee (FAAC).

In the report, Lagos state is ranked first as the highest recipient of gross allocation with a total sum of N178 billion in the twelve months. It is followed by Akwa Ibom State N173 billion, Delta State N144 billion and Kano State N117 billion. The five states cornered a quarter (25%) of the total allocation for the states and local government councils in Nigeria within the one year period.

Among the 10 highest recipients from the Federation Account are Bayelsa State which got N95 billion; followed by Katsina State N88 billion, Oyo State N84 billion, Kaduna State N83 billion and Borno State N78 billion.
The lowest recipients are Gombe and Ebonyi States that got N49 billion each followed by Ekiti and Nasarawa States N50 billion each and Kwara N52 billion.

The report further disclosed that Edo and Ondo which are oil-producing states got N66 billion and N71 billion respectively while another state in the South-South, Cross River State, received N59 billion.

The Economic Confidential gathered that factors that influence allocation 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.

Meanwhile, the Economic Confidential which has been publishing the monthly Federation Account Allocation figures in the print edition of the magazine since January 2007, has commenced the publication of the monthly allocation in its online version.

The magazine is a sister publication of PRNigeria, a news release syndication platform.
See the breakdown of the allocations to states and their local government councils from the table in this link.



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