States share N145b allocation from fed account in July

The 36 states in July shared N145 billion from the federation account as their share of what the country generated as revenue from June and shared in July.

The breakdown is contained in a report obtained by the News Agency of Nigeria (NAN) on Thursday from a source at the office of the Accountant-General of the Federation.

NAN recalls that at the last Federation Account Allocation Committee meeting held in July, federal, states and local governments shared N559 billion as against the N305 billion that was shared before that.

The Minister of Finance, Mrs Kemi Adeosun, attributed the increase, which is the highest for the administration, to efficiency in collection by revenue generating agencies, especially the Federal Inland Revenue Service.

However, a source at the office of the Accountant-General’s Office said the increase was simply companies paying their Company Income Tax (CIT).

The person said CIT was usually paid between June and August every year.

“If you follow revenue trend, you will notice that the federation’s revenue goes up around these period, so it’s nothing new.’’

The report showed that the revenue distributed included the Gross Statutory revenue, Value Added Tax, exchange gain, solid minerals revenue from 2007 to 2014 and 13 per cent derivation to oil producing states.

The report showed that before distribution, state liabilities were deducted. The liabilities included external debt of N1.67 billion, contractual obligations of N10.62 billion and other deductions amounting to N17.1 billion.

The report showed that 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.

To sum it up, here is what the 36 states got after all deductions were made.

Abia N3.55 billlion, Adamawa N3.53 billion, Cross River N2.65 billion, Ekiti N2.42 billion, Edo N2.9 billion, Kaduna State N4.79 billion, Kano State N5.95 billion, Lagos state N8.30, Rivers N6.82 billion, and Zamfara, N2.95 billion.

Delta N5.1 billion, Anambra N3.82 billion, Benue N3.89 billion, Borno N4.2 billion, Ebonyi N3.40 billion, Enugu State N3.72 billion, Gombe State N2.89 billion, Nassarawa State N3.31 billion, Imo N3.7 billion and Ki N3.89 billion.

Yobe got N3.67 billion, Taraba N3.36 billion, Sokoto state N4.08 billion, Plateau N2.81 billion, Oyo State N4.13 billion, Osun N1.2 billion, Ondo State N3.7 billion, Ogun N2.83 billion, Niger N3.82 billion and Kebbi N3.78 billion.

Also, Katsina state got N4.49 billion, Bayelsa N4.98 billion, Bauchi State N4 billion, Jigawa N4.25 billion, Kebbi N3.78 billion and Kwara N3.07 billion.

The report also showed that the Federal Capital Territory got N5.2 billion from the Federal Government’s share of the distributable revenue for the month of June, shared in July, 2016.

(Source: NAN)

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