The Economic Confidential magazine provides here the distribution of a total sum of N693 billion being the statutory and VAT allocations shared to all tiers of government at the meeting of the monthly Federation Account Allocation Committee (FAAC) in May, 2012. From the total disbursement of nets after deductions, the highest recipients are from the oil producing states withAkwaIbomreceiving N19.4bn, Rivers N18.5bn Delta N15.4bn and Bayelsa N9.8bn. The highest recipients from non-oil –producing states are Lagos N14.3bn and Kano N11.2bn.
The lowest recipients as revealed in the table below are Gombe N4.1bn, Nasarawa N4.2bn, Ebonyi N3.9bn and Ekiti N4.3bn. The Economic Confidential can also confirm other disbursements in May, 2012: Federal N207.8bn, FCT Councils N4.4bn, Nigerian Customs Service (NCS) N2.5bn, and Federal Inland Revenue
NNN.COM.NG is a portal where you can read latest Nigeria News from all Nigeria Newspapers such as such as Punch, Vangaurd, Daily Times, Thisday, Guardian, Nation, Leadership and more in one place. NNN aggregates Naija News and sort them according to their sources, category and relevance as a way of reducing the effort a news reader needs to put in to reading breaking news in Nigeria and across the world.