…Delta State received the largest share of N402.26 billion (gross), followed by Rivers which received N398.53 billion.
TUE, MAR 19 2024-theGBJournal|The three tiers of government, the Federal Government, state and local governments, shared a total of N10.143 trillion from the Federation Account as statutory revenue allocations in 2023, NEITI said.
The Federal Government received N3.99 trillion, representing 39.37 per cent of the total allocation.
The 36 states got N3.585 trillion representing 35.34 per cent while the 774 local government councils shared N2.56 trillion, equivalent to 25.28 per cent.
A further analysis of the N10.143 trillion disbursements in 2023 showed an increase of N1.934 trillion or 23.56 per cent when compared to the disbursement of N8.209 trillion shared in 2022.
NEITI attributed the increase to improved revenue remittances to the Federation Account due to the removal of petrol subsidy and the floating of the exchange rate by the new administration.
The federal, state and local governments cumulatively received N1.934 trillion more than the amount shared in 2022.
The Federal Government’s share increased by N574.21 billion (16.79 per cent) from the N3.42 trillion it received in 2022 to N3.99 trillion in 2023.
The state governments shared N3.59 trillion in 2023 compared to the N2.76 trillion they got in 2022, showing an increase of 29.99 per cent.
Local government councils’ share was N2.57 trillion in 2023 compared to N2.032 trillion in 2022, a 26.22 per cent increase.
Total distributed revenue from the Federation account recorded an increase of 23.56 per cent in 2023,” NEITI executive secretary, Dr Orji Ogbonnaya Orji noted.
Delta State received the largest share of N402.26 billion (gross), followed by Rivers which received N398.53 billion.
Akwa-Ibom State received the third largest allocation of N293.58 billion.
Nasarawa State received the least amount of N73.32 billion, Ebonyi N73.91 billion and Ekiti N74.04 billion.
The 13 percent derivation revenues of states such as Delta, Akwa Ibom, and Bayelsa eclipsed their statutory revenues.
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