Revealed: Osun Loses 75 Percent Of August 2017 Allocation To Deductions



By Olabode Abolaji

The National Bureau of Statistics (NBS) has said 11 states lost a huge part of their August 2017 allocation to deductions.

According to the latest Federal Account Allocation Committee (FAAC) report released by the bureau, a total of N467.85 billion was distributed among the three tiers of government in August.

“The amount disbursed comprised of N387.32bn from the statutory account and N80.53billion from valued added tax (VAT).

“Federal Government received a total of N193.05billion from the N467.85billion shared. States received a total of N130.69billion and local governments received N98.01billion.

“The sum of N31.59billion was shared among the oil producing states as 13 per cent derivation fund.”

Eleven states lost more than N1 billion from their allocations, with Lagos being the worst hit.

Lagos got a gross allocation of N9.52 billion and lost N2.80 billion to deductions. Osun got a gross allocation of N3,06 billion and lost N2.41 billion to deductions, to have a net allocation of N650 million.

Delta also got a gross allocation of N10.50 billion and lost N2.45 billion to deductions, to have a net allocation of N8.05 billion.

States which lost more than N1 billion to deductions were Zamfara, Rivers, Plateau, Ondo, Ogun, Cross River, Ekiti and Jigawa.