Governor Abiola Ajimobi-led Oyo state government and the 33 local council areas shared a grand total of N3.279 billion from the federation revenue approved by the Federal Accounts Allocation Committee (FAAC) in March 2017.
The N3.279 billion represented revenue from federation account for the month of February, 2017 and distributed in March 2017 by the Federation Account Allocation Committee.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N466.93bn to the three tiers of government in March 2017 from the revenue generated in February 2017.
The amount, according to report from the Nigerian Bureau of Statistics, NBS, disbursed comprised of N290.16bn from the Statutory Account; N40.33bn from exchange gain; N60.89bn from Excess Petroleum Product Tax (PPT) Account; N69.21bn from Valued Added Tax (VAT) while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC).
Federal government received a total of N180.51bn from the N426.88bn shared. States received a total of N116.51bn and Local governments received N87.47bn. The sum of N3.80bn was shared among the oil producing states as 13% derivation fund and N31.47bn transferred to the Excess Petroleum Product Tax (PPT) Account.
Analysis by Inside Oyo showed that Ibadan North-east got the highest share of 127 million naira while Ogo-Oluwa local council got the lowest with 78 million naira for the period under review.
Picture below shows how much Oyo state and the 33 local government councils received in march 2017 to provide structures and services for its residents:
