July 7, 2008 FEDERATION ACCOUNT: The Sharing of N611bn in June 2008 From documents obtained by Nigeria's economic magazine, the Economic Confidential a total sum of N611.7bn was disbursed to the tiers of government in June 2008 at the monthly meeting of the Federation Account Allocation Committee (FAAC) in Abuja. The net allocation came from accounts of Statutory Revenue, VAT and Domestic Excess Crude Proceeds. The highest recipients are mostly oil producing states of Rivers which received N23bn, Akwa Ibom N16.5bn, Delta N11.8bn, Bayelsa N10.5bn and Ondo N7.3bn. The highest recipients from non-oil –producing states are Lagos N10bn, Kano N9.6bn, Katsina N6.9bn and Oyo N6.6bn. The lowest recipients with less than N4bn are Ekiti N3.9bn, Nasarawa N3.8bn, Gombe N3.8bn and Ebonyi N3.7bn. Other beneficiaries of the allocation included FG, FCT Councils, Customs, and FIRS… Click to view the table of the disbursement HERE….
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Wednesday, December 10, 2008
Federation Account: The Sharing of N611bn in June 2008
