Akwa Ibom tops 2016 FAAC allocation with over N116.6bn —NEITI

THE Nigeria Extractive Industries Transparency Initiative (NEITI) says Akwa Ibom  received the highest allocation of N116.6 billion from the federation account in 2016.

Dr Orji Ogbonnaya Orji, the Director, Communications of NEITI made this known in a statement on Thursday in Abuja.

According to the latest Quarterly Review of the Federation Accounts Allocation Committee (FAAC) by NEITI, Lagos and Rivers followed Akwa Ibom with N109.3 billion and 103.98 billion.

The report, which is the third in the series by NEITI, examined the breakdown and analysis of disbursements from the federation account to the three tiers of government.

It also looked at the Internally Generated Revenues (IGR) of the states in 2016.

It noted that although no reason was clearly given for the highest allocation received by Akwa Ibom, analysts suggested that it might not be unconnected with the vantage sharing position of the state under the 13 per cent derivation principles.

The report showed that Kwara and Ebonyi received the least federal allocations of N30.08 billion and 30.09 billion.

On allocation to local governments, the report said that Lagos topped the table with a total of N69.29 billion allocated to the 20 local governments in the state.

It showed that the 44 local governments in Kano State received a total of N56.16 billion also in 2016.

On disbursements to the Federal Government in 2016, the report disclosed the total FAAC allocation stood at N2.08trillion as against the N6.06 trillion budgeted for that year, which represented about 34 per cent of the budget.