FEDERATION ACCOUNT

How They Share N892bn in May 2008



From documents obtained by the Economic Confidential a total sum of N892bn was allocated to the tiers of government in May 2008. The amount released at the monthly meeting of the Federation Account Allocation Committee (FAAC) in Abuja was the highest disbursement ever made in the history of federal allocation for any given month.



The Economic Confidential in a computed table (below) shows that huge disbursement came from accounts of Statutory and VAT, Excess Crude Proceeds and differential in the Excess Foreign Crude Proceeds (for 3month Jan-March2008) paid to federal, states (with their Local Government Councils) and two revenue generating agencies (Nigerian Customs Service and Federal Inland Revenue Service) . The reason for increase in the release from the excess crude may not be unconnected with agitations and pressure from governors who continue to declare that the Excess Crude Account is illegal.



From the jumbo package in May 2008, the highest recipients are mostly oil producing states of Rivers which received N42bn, Akwa Ibom N29bn, Delta N21bn,d Bayelsa N19bn and Ondo N12bn. The highest recipients from non-oil –producing states are Kano N15bn, Lagos N13bn, Oyo N11bn and Katsina N11bn.



The lowest recipients with less thanN7bn as is authoritatively revealed in this table by the Economic Confidential are Ekiti N6.5bn, Nasarawa N6.4bn, Gombe N6.3bn and Ebonyi N5.6bn. Economic Confidential can also confirm other disbursements in April 2008: Federal N331bn, FCT Councils N1.5bn. Though the revenue generating agencies could not benefit from the bonuses from the excess crude disbursement they nevertheless received the monthly statutory and VAT Allocation. Nigerian Customs Service (NCS) received N1.5bn and Federal Inland Revenue Service (FIRS) N2.16bn.



Please see the details:

S/N
Governments
Statutory/VAT

N513bn
Excess Crude Proceeds

N67.bn
Excess Crude Proceeds Differential Jan-March

N311
Total

1
Abia
4,080,925,298.31
731,774,531.26
3,359,136,662.27
8,171,836,491.84

2
Adamawa
4,277,024,176.78
750,627,048.04
3,445,677,225.74
8,473,328,450.56

3
Akwa Ibom
13,618,773,028.05
2,893,599,465.39
13,282,774,454.24
29,795,146,947.68

4
Anambra
4,278,193,805.86
752,065,271.43
3,452,279,244.16
8,482,538,321.45

5
Bauchi
4,864,247,116.87
871,208,198.82
3,999,192,751.45
9,734,648,067.14

6
Bayelsa
8,659,926,926.69
1,841,291,179.57
8,845,260,147.05
19,346,478,253.31

7
Benue
4,762,358,438.42
838,597,236.70
3,849,495,442.00
9,450,451,117.12

8
Borno
5,381,595,748.56
942,740,048.43
4,327,552,441.90
10,651,888,238.89

9
Cross River
4,257,036,808.80
848,171,238.90
3,893,443,926.71
8,998,651,974.41

10
Delta
9,853,012,504.85
2,011,844,721.96
9,235,168,860.91
21,100,026,087.72

11
Ebonyi
3,114,547,395.35
545.335,720.94
2,503,308,239.33
5,617,855,634.68

12
Edo
3,907,947,447.56
693,084,672.67
3,181,534,796.00
7,782,566,916.23

13
Ekiti
3,299,092,989.45
576,038,326.46
2,644,245,431.65
6,519,376,747.56

14
Enugu
3,880,220,047.47
662,421,307.20
3,040,777,731.16
7,583,419,085.83

15
Gombe
3,155,673,626.09
567,582,662.98
2,605,430,567.24
6,328,686,856.31

16
Imo
5,212,775,136.88
946,213,550.68
4,343,497,201.18
10,502,485,888.74

17
Jigawa
4,937,345,078.82
867,585,528.90
3,982,563,253.11
9,787,493,860.83

18
Kaduna
5,485,303,192.45
962,068,003.02
4,416275,454.34
10,863,646,649.81

19
Kano
7,879,567,875.76
1,371,359,467.11
6,295,086,350.10
15,546,013,692.97

20
Katsina
5,803,190,722.35
1022,320,850.59
4,692,860,031.47
11,518,371,604.41

21
Kebbi
4,120,706,446.68
744,831,466.75
3,419,073,198.47
8,284,611,111.90

22
Kogi
4,265,685,507.90
755,371,407.15
3,467,455,724.38
8,488,512,639.43

23
Kwara
3,631,934,898.61
641,083,878.80
2,942,830,433.26
7,215,849,210.67

24
Lagos
7,907,240,184.27
1,031,444,992.71
4,734,743,479.16
13,673,428,656.14



25
Nassarawa
3,289,104,732.96
566,028,399.24
2,598,295,877.43
6,453,429,009.63

26
Niger
5,027,962,762.82
906,988,534.76
4,163,438,749.53
10,098,390,047.11

27
Ogun
4,163,858,019.73
718,683,890.48
3,299,045,405.33
8,181,587,315.54

28
Ondo
6,086,088,012.62
1,189,141,952.53
5,458,635,356.58
12,733,865,321.73

29
Osun
4,314,901,043.88
775,707,709.78
3,560,807,456.15
8,651,416,209.81

30
Oyo
5,506,434,554.95
984,508,216.04
4,519,284,973.04
11,010,227,744.03

31
Plateau
3,902,413,675.85
696,057,140.29
3,195,179,606.68
7,793,650,422.82

32
Rivers
19,297,055,653.47
4,082,873,210.10
18,742,014,789.43
42,121,943,653.00

33
Sokoto
4,531,056,939.12
793,744,898.67
3,643,605,339.78
8,968,407,177.57

34
Taraba
4,040,573,102.30
698,722,465.81
3,207,414,512.79
7,946,710,080.90

35
Yobe
3,979,455,925.06
687,108,469.49
3,154,101,642.28
7,820,666,036.83

36
Zamfara
3,787,198,931.46
671,782,351.30
3,083,748,653.32
7,542,729,936.08

37
FCT-Abuja
953,119,654.54
108,345,291.58
497,348,056.81
1,558,813,002.93


State’s total
199,513,547,411.58
36,748,353,306.53
168,689,583,466.38
404,951,484,184.49

38
FGN
157,855,152,274.81
31,092,589,579.97
142,727,374,513.52
331,675,116,368.30

39
Customs
1,504,454,707.41
0.00
0.00
1,504,454,707.41

40
Transfer to Excess Crude
145,515,839,320.34
0.00
0.00
145,515,839,320.34

41
FIRS
2,166,235,577.82
0.00
0.00
2,166,235,577.82

42
Total deduction
6,448,422,261.12
0.00
0.00
6,448,422,261.12

43
GRAND TOTAL
513,003,651,553.08
67,840,942,886.50
311,416,957,979.90
892,261,552,419.48


This table was created and computed by the monthly Economic Confidential Magazine

POLITICAL MONKIES on the loose

A more interesting release would be information showing the revenue all the states generated in a set time and also how much money each state invested in different projects (e.g. infrastructure) also in thesame set time. That would be more relevant than this table which shows how much handout was given to each state.

All this big big figures just dey make my eye roll what shame so much money yet we still in proverty

rubbish , all is just useless numbers, without meaning.