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Federation Account: Details Of How FG, States, LGs Shared ₦7.23trn In 2020

Uramah Media

The fund which was shared by the Federal Government, states and local government comprise collections by revenue generators, including Nigeria Customs Service (NCS) Department of Petroleum Resources (DPR) and Federal Inland Revenue Service (FIRS).

It was gathered that the Minister of State for Finance, Zainab Ahmed, meets with State Commissioners of Finance for disbursement every month.

A further report revealed that the Federal Government and its agencies received ₦3.04trillion, States and LGs got ₦4.18trillion.

The ₦4.18trillion is a ₦232billion lesser than the ₦4.4trillion the two tiers received in 2019.

The Economic Confidential, Lagos in a report noted that the fund is ranked the highest recipient with a sum of ₦299billion in twelve months.

Delta received ₦247billion, Akwa Ibom ₦212billion, Rivers ₦198billion and Kano ₦174billion. The five states got 25 per cent of the total allocation.

Other states in the top 10 were Bayelsa ₦152billion, Katsina ₦130billion, Oyo ₦127billion, Kaduna ₦124billion and Borno ₦115billion.

The lowest recipients were Gombe ₦72billion, Ebonyi ₦73billion, Nasarawa ₦73billion, Ekiti ₦74billion and Kwara ₦77billion.

Edo, Ondo, Cross River, all oil-producing states, got ₦99billion, ₦97billion and ₦86billion respectively.

Factors that influence allocations to states and local councils include population, derivation, landmass, revenue generation drive, school enrolments, health facilities, water supply, among others.

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Sir Uramah

The author Sir Uramah

Uramah David is the Founder, Ceo and an editor of Uramah Media. He loves to entertain, inform and updates youths/students.We are social! follow us on:

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