Buhari's govt got N2.2tr from Federation Account in one year
(Nigeria) Facts have emerged through a painstaking and diligent investigation that the Federal Government under President Muhammadu Buhari got a total N2,203,573,573,563.25 from the Federation Account as allocation between June 2015 and May 2016, Economic Confidential can authoritatively report.
In a recent search by the Economic Confidential, the
economic intelligent magazine and carefully computed, the administration under
Buhari’s watch got the highest allocation in July 2015 with N412.60 billion and
the lowest allocation within the period under review of N113.80 billion in May
2016.
The report further reveals that in June 2015, the Federal
Government received N173.91 billion made up of N159.72 billion for consolidated
Revenue fund, N3.27bn for share of derivation and ecology, N1.63bn for
Stabilization fund, N5.49bn for development of natural resources, and N3.78bn for the Federal Capital
Territory Administration.
In August, September
and October 2015, it received N216.99bn,
N180.86bn and N162.93bn respectively.
Between November and December 2015 the federal Government also got N205.15bn
and N151.64bn to end the year.
At the start of 2016 and precisely January, it received
N175.04bn made up of N160.87bn for consolidated revenue fund, N3.10bn for share
of derivation and ecology, N1.77bn representing that of stabilization fund, while
development of natural resources and FCT stood at N5.46bn and N3.82bn
respectively.
As for the month of February, March and April this year it
was the peak of “low returns on
investment” as the federal Government witnessed in a descending order of N150.32bn,
N139.36bn, N120.92bn to close the first
quarter in a not too- cheering manner.
It will be recalled that Economic Confidential had recently investigated and
published the allocations from the federation account to states and local
governments in the country in the last one year, apart from Internally
Generated Revenue, IGR, accruing to the 36 states of the federation and Abuja.
It has also published what major revenue collecting agencies have also received
within the period.
The report on IGR indicated that only Lagos State generated
more revenue than the allocation from the Federation Account which was about
150 percent.
Economic Confidential also revealed that the IGR of N268bn by Lagos state in 2015 is more
than that of 32 other states put together that generated a total of N257bn.
Meanwhile Economic
Confidential gathered that apart from the allocations from the Federation
Account, as at the end of March this year, total inflows into the Treasury
Single Account, TSA, of the Federal Government under President Buhari stood at
N3 trillion while the number of Ministries, Departments and Agencies, MDAs,
rose to 976.
However, Finance Minster, Kemi Adeosun recently disclosed
that TSA has significantly witnessed an
increase to N3.3 trillion in May 2016, noting that the Finance Ministry had
continuously discovered revenue platforms that had escaped its net especially,
shipping levies, airport landing charges, visa fees amongst others.
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