FG, States, LGs Shared N19.01tn Mineral Revenue In Three Years– Report
A report by the Nigerian Extractive Industries Transparency Initiative has revealed that the Federal Government, States and Local Governments shared a total of N19.01tn ($45.7bn) between 2017 and 2019.
The report is titled ‘Fiscal Allocation and Statutory Disbursement’ published by NEITI. It covered the period of 2017 to 2019.
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The amount shared was from the N28.02tn revenue generated by the Federal Inland Revenue Service, the Nigerian National Petroleum Company Ltd, the former Department for Petroleum Resources now the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the Ministry of Mines and Steel Development, according to the audit.
A breakdown of the amount generated revealed that minerals revenue contributed N12.84tn, non-minerals revenue contributed N6.57tn, while Value-Added Tax (VAT) accounted for N3.27tn.
Out of the N28.02tn generated from 2017-2019, the report said that N22.68tn was remitted to the Federation Account, while N19.01tn was shared between the three tiers of government.
The highest recipient of the allocations was the FG as it received N8.55tn, while the 36 states of the federation received a total of N5.8tn.
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Nigeria’s 774 Local Government Areas got a total disbursement of N4.36trn, the audit report revealed.
According to the report, Delta State received the highest allocation by state at N1.24tn, while the Federal Capital Territory received the lowest at N110bn during the three years.
It said, “The three tiers of government shared N19.01trn mineral revenue during the period under review. Breakdown showed that the Federal Government received the sum of N8.85trn while N5.80trn and N4.36trn were received by the 36 States and Local Governments respectively.
“A comparison of allocation per geo-political zones reveals that south-south states received the highest allocation during the period under review in the sum of N5.17 trillion (26.54 per cent) while southeast received the lowest allocation of N2.12trn (10.91 per cent).”
