Oyo state government is among the 10 highest recipients of Federal Allocation state in 2018 with N131 Billion, insideoyo.com has gathered.
The new report by the Economic Confidential has disclosed that the federal government, 36 states and the 774 local government councils in Nigeria shared a total sum of N8 trillion from the Federation Account in 2018 in spite of the shut-ins in several oil installations during the period.
The allocations were made after the monthly meetings of the Federation Account Allocation Committee (FAAC) in 2018.
The current sources of revenue flow into the Federation Account are revenue collected by agencies of the federal government with little or no contributions from states and local government councils.
While the federal government and its agencies under the administration of President Muhammadu Buhari received a total sum of N3.48 trillion, the other tiers, states and local government councils, shared a total sum of N4.5 trillion in 2018. Meanwhile, in 2017 the federal government and its agencies had received N2.5 trillion while the other tiers of government shared N3.3 trillion.
In its annual detailed investigative report with a table of figures, the Economic Confidential disclosed that among the state recipients, Delta is ranked first as the highest recipient of gross allocation with a total sum of N285 billion in the twelve months of 2018.
It is followed by Akwa State N272bn, Lagos N260bn, Rivers N237bn and Bayelsa N192bn. The five states cornered over a quarter (25 per cent) of the total allocation for the states and local government councils in Nigeria in 2018.
Among the 10 highest recipients from the Federation Account in 2018 included Kano State which got N183bn, Katsina N138bn, Oyo N131bn, Kaduna N131bn and Borno State N122bn.
