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Imo got N12.72bn from FAAC between Jan. and March

Figures available,Imo state has received N12.72 billion out of the N593.1 bn as her share of the federal allocation in the first quarter of 2018 covering the months of January and march.

In January, the 36 states of the federation shared N196.99 billion, in February, N195.25 billion, and N200.86 billion in March.

The allocation was made using the revenue sharing formular, Federal Government, 52.68 per cent; states, 26.72 per cent and local governments 20.60 per cent.

The 36 states of the federation have so far withdrawn about 593.1 billion from the Federation Account as revenue generated in the first quarter of 2018.

The breakdown is contained in the monthly Federation Account Allocation Committee (FAAC) report obtained on Sunday in Abuja.

The key agencies remiting funds into the federation account are the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service and the Nigerian Custom Service.

The report showed that before distribution, state liabilities were deducted in the areas of external debt,contractual obligations and other deductions.

Also, deductions cover National Water Rehabilitation Projects, National Agricultural Technology Support, Payment for Fertilizer, State Water Supply Project, State Agriculture Project and National Fadama Project.

To sum it up, here is what each of the 36 states got in the first quarter of 2018, after all deductions were made.

Abia N13.09 billlion, Adamawa N11.82 billion, Akwa Ibom N50.88 billion, Anambra, N13.01 billion, Bauchi, N13.04 billion, Bayelsa, N38.89 billion, Benue, N12.98 billion, Borno, N14.82 billion and Cross River, N8.41 billion.

Delta got N49.43 billion, Ebonyi, N10.73 billion, Edo, N15.86 billion, Ekiti, N8.75 billion, Enugu, N12.27 billion, Gombe, N10.17 billion, Imo, N12.72 billion, Jigawa, N14.2 billion, Kaduna, N16.15 billion and Kano, N19.65 billion.

Similarly, Katsina’s share from the federation account in three months was N13.99 billion, Kebbi, N12.78 billion, Kogi, N12.39 billion, Kwara, N10.62 billion, Lagos, 29.99 billion, Nassarawa, N11.18 billion and Niger, N13.44 billion.

Finally, Ogun state got N9.4 billion, Ondo, N15.27 billion, Osun, N4.98 billion, Oyo, N13.83 billion, Plateau, N10.15 billion, Rivers, N42.74 billion, Sokoto, N12.43 billion, Taraba, N11.1 billion, Yobe, N12.42 billion, and Zamfara, N9.16 billion.

These components are the statutory allocation, Value Added Tax distribution; and allocation made under the derivation principle.

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