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Imo, Abia Share from $2bn and N370bn as Oil Producing States, C/River Out

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  • Economic Confidential
    Latest from the Economic Confidential (www.economicconfidential.com)   FAAC: They $2bn and N370bn in Aug 09 as Imo, Abia now Oil Producing The Economic
    Message 1 of 1 , Sep 7, 2009
      Latest from the Economic Confidential (www.economicconfidential.com)


      FAAC: They $2bn and N370bn in Aug 09 as Imo, Abia now Oil Producing

      The Economic Confidential has gathered that a sum of $2billion was distributed from Excess Crude Oil Saving Account at the meeting of the Federation Account Allocation in August 2009. This is one of the four allocations that were made to the three tiers of government in Nigeria. In the table of the dollar allocation, some states in Igbo land, Abia and Imo benefit from derivation fund as oil producing states, while Cross River State does not benefit from the mineral revenue fund for that purpose. The highest recipients in the disbursement are Rivers State $90mn, Akwa Ibom $98mn, Delta $86mn, Bayelsa $44mn and Ondo $34mn. Other recipients are Lagos which receives $30mn, Kano $40mn, Katsina $30mn and Oyo State gets $29mn. The other allocations in related tables provided by the Economic Confidential included distribution of N310bn from Statutory and VAT Accounts, Distribution of N27bn from the Excess Crude Account and Sharing of N33bn for Foreign Exchange Difference in early allocation... Read


      Other Disbursements in August 2009

      FAAC: How They Share N310bn from Statutory and VAT

      Excess Crude Account: Distribution of N27bn in August

      Exchange Difference: The Sharing of N33bn in August



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