How N675bn was shared among 36 states in first quarter

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The 36 states of the federation received N675.20 billion in the first quarter of 2019, according to the data on the monthly disbursement of the national revenue by the Federation Account Allocation Committee (FAAC) which was published by the National Bureau of Statistics (NBS). In January 2019, the 36 states (excluding FCT Abuja) shared N223.67 billion. The allocation increased by 3.1 percent to N230.66 billion in February but declined by 4.2 percent to N220.87 billion in March. On the flip side, these states paid N85.21 billion for the repayment of external debt, contractual obligations (ISPO) and other obligations during the quarter.

Out of the 36 states, 10 states: Delta, Akwa Ibom, Rivers, Lagos, Bayelsa, Kano, Edo, Kaduna, Ondo and Oyo in that order, got 46 percent of the total disbursement in January. These states received 47 percent of the February 2019 FAAC allocations while they also got 48 percent of March 2019 FAAC disbursement to states. Put differently, the ten aforementioned states received N103.68 billion, N107.92 billion and N106.14 billion in January, February and March 2019.

Individually, Delta State in South-South region got the lion’s share in each month. Its N18.53 billion allocation in January 2019 amounted to 8.29 percent of the total FAAC disbursement to the 36 states in that month. It received N19.85 billion in February and N20.32 billion in March to have N58.70 billion as total allocation in the first quarter of 2019. By implication, for every day in the first quarter of 2019, the Delta State Government had N652.26 million at its disposal.

Akwa Ibom State received N15.62 billion in January, N15.67 billion in February and N16.39 billion in March to have N47.68 billion in the first quarter, thereby accounted for 7.42 percent of the total FAAC disbursed to the 36 … Read More...