According to a report released by the Economic Confidential, an intelligence economic magazine, the 36 states and 774 local government councils in Nigeria shared a total of N2.8 trillion from the Federation Account in the first year of President Muhammadu Buhari-led administration.
The report disclosed that the total figure was the payment made to the two tiers of government between June 2015 and May 2016 at the monthly meeting of the Federation Account Allocation Committee (FAAC).
It further revealed that Lagos State is ranked first as the highest recipient of gross allocation with a total of N178 billion during the 12-month period.
“It is followed by Akwa State (N173 billion), Delta State (N144 billion) and Kano State (N117 billion).
“The five states cornered a quarter (25 percent) of the total allocation for the states and local government councils in Nigeria within the one- year period.
“Among the 10 highest recipients from the Federation Account are Bayelsa State (N95 billion) followed by Katsina State (N88 billion), Oyo State (N84 billion), Kaduna State (N83 billion) and Borno State (N78 billion).
“The lowest recipients are Gombe and Ebonyi states that got N49 billion each followed by Ekiti and Nasarawa states (N50 billion each) and Kwara (N52 billion).”
The report added that Edo and Ondo states with oil-producing status got N66 billion and N71 billion respectively, while Cross River State merely received N59 billion.
The Economic Confidential gathered that factors that influence allocation to states and local government councils from the Federation Account included population, derivation, land mass, terrain, revenue effort, school enrollments, health facilities, water supply and equality of the beneficiaries.
Meanwhile, the Economic Confidential, which has been publishing the monthly Federation Account Allocation figures in the print edition of the magazine since January 2007, has commenced the publication of the monthly allocation in its online version.
