The three tiers of government comprising federal, states and local government councils shared a grand total of N4.97 trillion as federation revenue approved by the Federal Accounts Allocation Committee (FAAC) in 2016 fiscal year.
The N4.97 trillion represents 12 months of disbursements with effect from December 2015 to November 2016 as against last year’s grand total disbursements of N5.5 trillion for similar period.
The 2016 allocation dipped by N523.2 billion. The December 2016 allocation will be shared in January 2017.
The allocation breakdown revealed that the Federal Government cornered the largest share of the disbursement to the tune of N1,544.384 trillion followed by states with N862.779 billion, local government councils (774) collectively received N489.511 billion while oil producing states collected in the last one year the sum of N213.3 billion as derivation fund.
January 2016: N387.771 billion – Federal Government’s statutory share was N147.57 billion, states got N74.848 billion, LGs N57.705 billion while oil-producing states collected N27.703 billion.
February 2016: N370.388 billion – Federal Government got N137.473 billion, states N69.728 billion, LGs N53.757 billion while allocation to oil producing states was N22.380bn.
March 2016: N345.095 billion with Federal Government receiving N127.2 billion, states N64.518 billion, LGs N49.740 billion, while 13 per cent derivation for the month was N22.780bn.
April 2016: N299.747 billion – The central government got N109.113 billion, states N55.334 billion, LGs N42.668 billion and the sum of N19.750 billion was paid as 13 per cent derivation.
May 2016: N281.500 billion shared with Federal Government getting the highest amount of N101.215 billion, states N51.338 billion, LGs N39.579 billion and N15.745bn as 13 per cent.
June 2016: N305.128 billion – Federal Government N112. 830 billion, states N57.229 billion, LGs N44.121 billion and N16.738 billion for oil producing states.
July 2016: N559.032 billion – Federal Government got N119.754 billion; states got N101.318 billion, LGs N78.112 billion while N17.124 billion was paid to oil producing states.
August 2016: N691 billion was shared, out of which Federal Government got N225 billion, states, N153 billion, LGs N116 billion and N9.92 billion as derivation.
September 2016: N510.27 billion – Federal Government got N149.310 billion, states N75.732 billion, LGs N58.386bn and N20.293 billion as 13 per cent derivation.
October 2016: N420 billion – Federal Government got N120.351 billion, states N61.044 billion, LGs N47.062 billion while N13.729 billion went to oil producing states.
November 2016: N420 billion – Federal Government got N96.674 billion, states N49.035 billion, LGs N37.804 billion, while oil-producing states got N13.548 billion.
The last allocation in 2016 was N386.879 billion.
FG’s share was N97.897 billion, states N49.655 billion, LGs N38.282 billion and N13.613 billion as 13 per cent for oil producing states.AD ==> 5 useful tips to get rid of infertility and fibroid within 30days..CLick HERE.