C'River receives lowest federal allocation in 2018 as Delta, Akwa Ibom top chart
https://www.fearlessreports.com/2019/04/criver-receives-least-federal.html
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| Governor Ben Ayade |
The allocations were made after the monthly meetings of the Federation Account Allocation Committee (FAAC) in 2018.
The current sources of revenue flow into the Federation Account are revenue collected by agencies of the federal government with little or no contributions from states and local government councils.
While the federal government and its agencies under the administration of President Muhammadu Buhari received a total sum of N3.48 trillion, the other tiers, states and local government councils, shared a total sum of N4.5 trillion in 2018.
Meanwhile, in 2017 the federal government and its agencies had received N2.5 trillion while the other tiers of government shared N3.3 trillion.
In its annual detailed investigative report with a table of figures, the report disclosed that among the state recipients, Cross River State received N91 billion which is the least in the entire South/South region and one of the least in the country.
Cross River, a state covering a total of 20,156sqkm land area, is one of the most populated states in the region.
Delta state is ranked first as the highest recipient of allocation with a total sum of N285 billion last year.
It is followed by Akwa State N272bn, Lagos N260bn, Rivers N237bn and Bayelsa N192bn. The five states cornered over a quarter (25 per cent) of the total allocation for the states and local government councils in Nigeria in 2018.
Among the 10 highest recipients from the Federation Account in 2018 included Kano State which got N183bn, Katsina N138bn, Oyo N131bn, Kaduna N131bn and Borno State N122bn.
The report further disclosed that Edo and Ondo, which are oil-producing states, got N112bn and N108bn respectively.
The Economic Confidential gathered that factors that influence allocations 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.
The revenue generating agencies to the Federation Account are the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS) and Department of Petroleum Resources (DPR).
The revenues come from Export Crude Sales, Domestic Crude Sales, LPG, NLNG, Petroleum Profit Tax (PPT), Company Income Tax (CIT), Withholding Tax (WHT), Import Duty, Excise Duty, Royalties, Gas Flared and miscellaneous oil revenue such as Oil Prospecting License and oil Mining Licence.
The Economic Confidential which is circulated at the monthly meeting of the Federation Account Allocation Committee (FAAC) has been publishing the monthly FAAC figures since January 2007.
It also publishes the Annual States Viability Index (ASVI) which measures the likely survival of states on their Internally Generated Revenue (IGR) without relying on federally collected revenues, especially from the Federation Account.
