Details Of ₦8.8 Trillion Shared Amongst States, LGs – NEITI

A total of N8.79 trillion was allocated through Federation Account distributions in 2020 and 2021, benefiting the 36 states, the Federal Capital Territory (FCT), and the 774 local government councils across the nation.

Figures provided by the Nigeria Extractive Industries Transparency Initiative (NEITI) were made public in a report released last week.

As indicated by the Fiscal Allocation and Disbursements Audit (FASD) report, the revenue incorporates gross statutory allocations, value-added tax, and a 13 percent derivation allocated to mineral-producing states.

NEITI reported that the South-South emerged as the top recipient among geo-political zones, securing the highest allocation of N2.59 trillion, constituting 29.53 percent of the total revenue distributed to the federating units.

This substantial figure resulted from the exclusive allocation of 13% derivation revenue to nine oil-producing states, with five of them located in the South-South geopolitical zone.

Looking at the remaining zones, the North-West received N1.56 trillion, comprising 17.85 percent, whereas the South-West received N1.28 trillion, making up 14.57 percent. The North-Central’s share was N1.26 trillion, representing 14.39 percent, and the North-East received 12.71 percent during the period under review.

Read also: How Nigeria Lost $46Bn To Oil Theft In 11 Years — NEITI

The South-East recorded the lowest allocation, totalling N963 billion, which constituted 10.96 percent of the entire allocation.

Delta State, in the South-South Zone, secured the highest allocation at N372.07 billion, followed by Rivers with N298.68 billion and Akwa Ibom with N281.78 billion.

During the years under review, Cross River received the smallest allocation, which was N66.83 billion.

Kano State topped the list in the North-West Zone with the highest allocation of N163.41 billion, trailed by Kaduna at N130.02 billion and Katsina at N123.09 billion, while Zamfara State received the least allocation of N84.81 billion during the years under review.

Lagos State secured the highest allocation in the South-West zone with N243.58 billion for the period under review, followed by Oyo at N117.93 billion and Ondo at N95.98 billion. Osun received the least allocation at N64.19 billion.

With N112.77 billion, the FCT in the North Central Zone had the highest allocation, while in the North East Zone, Borno State received the top allocation at N122.49 billion. Imo State secured the highest allocation in the South East zone with N113.45 billion during the period under review.

The Nigerian National Petroleum Corporation (NNPC) reported total sales of oil and gas amounting to N5.49 trillion during the period under review, as per the disclosed information in the report.

However, the total receipts for the same period amounted to N6.05 trillion.

The variance of N0.56 trillion was attributed to the cost of collection from the preceding period’s sales.

Africa Today News, New York

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