FG publishes report showing how 36 states shared N173.8bn from federation account in September.

The report shows that the federal capital territory got N5.74 billion from the federal government’s share of the distributable revenue The 36 states shared N173.8 billion from the federation account in September 2017 from the distributable revenue generated for the month.

The breakdown was obtained by the News Agency of Nigeria (NAN) in a report from the office of the Accountant-General of the Federation in Abuja. The funds are usually shared the following month.

For example, revenue generated in January is shared in February; thus, the revenue shared was actually generated in August and shared in September. The key agencies that remit funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service and the Nigerian Customs Service. News reaching us that the last Federation Account Allocation Committee (FAAC) meeting in September, federal, states and local governments shared N637.7 billion. The report showed that the revenue distributed included the Gross Statutory revenue, Value Added Tax, exchange gains and Petroleum Profit Tax. The report showed that before distribution to the states, their liabilities were first deducted. The liabilities include a total external debt of N2.67 billion, contractual obligations of N9.58 billion and other deductions amounting to N18.2 billion. The report showed that the other deductions covered National Water Rehabilitation Projects, National Agricultural Technology Support, Salary bailout, 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 N4.04 billlion, Adamawa N4.02 billion, Cross River N2.85 billion, Ekiti N2.94 billion, Edo N4.5 billion, Kaduna State N5.4 billion, Kano State N6.8 billion, Lagos state N8.8 billion, Rivers N12.45 billion, and Zamfara, N3.05 billion.