Saturday, September 3, 2016

How 36 states shared N156.2bn in two months

The total sum of 
N156, 240,031,414.57 was shared for the 36 states of the federation from Federation Account Allocation Committee for the month of May and June, 2016.

In a statement released yesterday by the National Bureau of Statistics, NBS, from the FAAC allocation by federal, state and all 774 LGAs for June and July, 2016, the gross statutory allocation of 57,228,855,281.52 was shared for the 774 LGAs in the month of June and N99,011,176,133.05 in the month of July.

breakdown of the summary of the distribution showed that in the month of June, Kano State with 44 local government councils received the highest share of 2,521,522,564.68 for the month of June. Katsina state with 34 LGAs followed with N1,855,143,352.32. Oyo state with 33 LGAs was third on the log with the sum of N 1,692,695,366.42. Bayelsa state with 8 LGAs received the least sum of N1,335,348,055.38 followed by Gombe state with 11 LGAs N1,421,522,437.67. The next state from the rear is Ebonyi with 13 LGAs, which got N1,350,174,531.57 for the month of June. In the month of July, Kano also got the lion share of N4,141,530,661.97 followed by Katsina state with N3,209,568,395.26 and Oyo state with 33 LGAs that received third highest share of N2,928,518,458.74. Similarly, Bayelsa state led from the rear with N2,310,274,788.13. Gombe received N2,459,364,384.64, while Ebonyi state got N2,335,925,953.74. Meanwhile, the sum of N16,737,534,925.61 and N15,834,173,467.20 were shared respectively in the month under review by the nine oil producing states. Akwa Ibom received N5,707,719,568.95 and N5,147,046,274.87 respectively, which were the highest among all the states followed by River state which got N3,794,656,431.68 and N3,599,566,911.82 respectively. Edo state got the list amount of N96,653,425.30 and N135,627,219.07 for the same period. However, Lagos State led the park on the list of indebtedness with a total of N377,218,633.57 as its external debt in June, out of a total of N,687,226,870.81 external debts owed by the 36 states in June. Lagos State also led chart on the list of indebted states in July month of July with the sum of N377,218,633.57 external debts out of a total of N1,687,226,870.81 by all the states.