{"id":12059,"date":"2016-10-24T18:09:09","date_gmt":"2016-10-24T18:09:09","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=12059"},"modified":"2016-10-24T18:09:09","modified_gmt":"2016-10-24T18:09:09","slug":"rivers-delta-lagos-bayelsa-lead-in-sharing-of-n143-6bn-september-federal-account","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=12059","title":{"rendered":"Rivers, Delta, Lagos, Bayelsa lead in sharing of N143.6bn September federal account"},"content":{"rendered":"<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/crude-oil.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9835\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/crude-oil-300x174.jpg\" alt=\"crude-oil\" width=\"300\" height=\"174\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/crude-oil-300x174.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/crude-oil.jpg 620w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The 36 states got N143.6bn from the federation<br \/>\naccount in September as their share of<br \/>\ndistributable revenue generated for the month.<br \/>\nThe breakdown shows in a report obtained by the<br \/>\nNews Agency of Nigeria, NAN, from a source at<br \/>\nthe office of the Accountant-General of the<br \/>\nFederation in Abuja yesterday.<\/p>\n<p><code><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=11290&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n<p>The funds are usually shared the following<br \/>\nmonth; for example, revenue generated in<br \/>\nJanuary is shared in February; thus, the revenue<br \/>\nshared was actually generated in August and<br \/>\nshared in September 2016.<br \/>\nThe key agencies that remit funds into the<br \/>\nfederation account are the Nigerian National<br \/>\nPetroleum Corporation, NNPC, Federal Inland<br \/>\nRevenue Service, FIRS, and Nigerian Custom<br \/>\nService, NCS.<br \/>\nAt the Federation Account Allocation Committee,<br \/>\nFAAC, meeting in September, federal, states and<br \/>\nlocal governments shared N516bn as against the<br \/>\nN530bn that was shared in August.<br \/>\nThe report showed that the amount distributed<br \/>\nincluded Gross Statutory revenue, Value Added<br \/>\nTax, exchange gain, N35bn excess Petroleum<br \/>\nProfit Tax and 13 per cent derivation to oil<br \/>\nproducing states.<br \/>\nThe oil producing states are Abia, Akwa Ibom,<br \/>\nBayelsa, Delta, Edo, Imo, Ondo and Rivers.<br \/>\nThe report showed that before distribution, state<br \/>\nliabilities were deducted. The liabilities include an<br \/>\nexternal debt of N2.9bn, contractual obligations<br \/>\nof N10.48bn and other deductions amounting to<br \/>\nN16.9bn.<\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p>The report showed that other deductions covered<br \/>\nnational water rehabilitation projects, national<br \/>\nagricultural technology support, payment for<br \/>\nfertilizer, state water supply project, state<br \/>\nagriculture project and National Fadama project.<br \/>\nTo sum it up, here is what the 36 states got after<br \/>\nall deductions were made. Abia N3.01bn,<br \/>\nAdamawa N3.14bn, Cross River N2.04bn, Ekiti<br \/>\nN2.16bn, Edo N2.54bn, Kaduna N4.23bn, Kano<br \/>\nN5.2bn, Lagos N7.92bn, Rivers N9.05bn, and<br \/>\nZamfara, N2.58bn.<br \/>\nAlso, Delta got N7.39bn, Anambra N3.43bn,<br \/>\nBenue N3.37bn, Borno N3.9bn, Ebonyi N2.99bn,<br \/>\nEnugu N3.34bn, Gombe N2.61bn, Nassarawa<br \/>\nN2.92bn, Imo N2.97bn and Kogi N3.39bn.<br \/>\nYobe got N3.29bn, TarabaN2.89bn, Sokoto<br \/>\nN3.62bn, Plateau N2.31bn, Oyo N3.53bn, Osun<br \/>\nN868.9m, Ondo N4.18bn, Ogun N2.16bn, Niger<br \/>\nN3.49bn and Kebbi N3.36bn.<br \/>\nThe rest are, Katsina N4bn, Bayelsa N7.6bn,<br \/>\nBauchi N3.52bn, Jigawa N3.82bn and Kwara<br \/>\nN2.77bn.<br \/>\nThe report also showed that the Federal Capital<br \/>\nTerritory got N4.7bn from the Federal<br \/>\nGovernment\u2019s share of the distributable revenue.<br \/>\nThe FAAC committee is made up of<br \/>\nCommissioners of Finance and Accountants-<br \/>\nGeneral from the 36 states of the federation;<br \/>\nAccountant General of the Federation, and<br \/>\nrepresentatives from NNPC.<br \/>\nOthers are representatives from the FIRS; NCS;<br \/>\nRevenue Mobilisation, Allocation and Fiscal<br \/>\nCommission, RMAFC, as well as the Central Bank<br \/>\nof Nigeria.<br \/>\nThe federation account is currently being<br \/>\nmanaged on a legal framework that allows funds<br \/>\nto be shared to the three tiers of government<br \/>\nunder three major components.<br \/>\nThese components are the statutory allocation,<br \/>\nValue Added Tax distribution and allocation made<br \/>\nunder the derivation principle.<\/p>\n<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=11290&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 36 states got N143.6bn from the federation account in September as their share of distributable revenue generated for the month. The breakdown shows in a report obtained by the News Agency of Nigeria, NAN, from a source at the office of the Accountant-General of the Federation in Abuja yesterday. The funds are usually shared [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":9835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[2452,3169,338],"class_list":["post-12059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-firs","tag-ncs","tag-nnpc"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/crude-oil.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-38v","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12059"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12059\/revisions"}],"predecessor-version":[{"id":12060,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/12059\/revisions\/12060"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/9835"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12059"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}