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June 2016 Federal Allocation: EKSG, EKLG Get N2.5Billion, N2.01Billion Respectively



Ekiti State government has gotten a net allocation of N2.5billion from the Federation Account for the month of June, contrary to insinuations by the opposition All Progressives Congress (APC) that it got over N9billion. This disclosure was made in Ado-Ekiti on Monday by the state governor, Ayodele Fayose, while speaking on state radio and television.

The governor challenged the APC and any other person or group having any contrary figures to make that public. Brandishing the allocation paper that came from Abuja, the governor said after the deduction of over N900million to service the state's debts, what eventually came to the state was N2.51 billion. He added that the 16 local governments were given N2.01 Billion.

The Federal Account Allocation Committee (FAAC) had shared N599.032Billion among the three tiers of government. This is the first time in 2016 that the Federation Account Allocation Committee (FAAC) is sharing such an amount, which the state governments said will allow them to pay salaries and meet other financial obligations.

This is a significant improvement when compared to the sums of N281.500bn and N305.128bn shared by the three tiers of government for the months of April and May respectively.

This improvement excited the Minister of Finance, Mrs Kemi Adeosun, who told journalists at the end of the monthly FAAC meeting in Abuja yesterday that the feat was achieved in spite of the country technically entering recession.



A breakdown of the disbursements showed that from statutory allocation, the federal government received N199.754 billion, state governments N101.318 billion, local governments N78.112 billion and N17.124 billion was given to the oil producing states as 13% mineral revenue derivation.

For Value Added Tax (VAT), the federal government took N9.706 billion, states N32.353 billion and local governments N22.647 billion.

Adeosun attributed the increase in what was shared for June to improved collection performance by the Federal Inland Revenue Service (FIRS) and the Nigerian Customs Service (NCS).

The improved performance from the non-oil revenue generating agencies, she said, “shows that some of the reforms in revenue collection is improving significantly”.

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