Facts have emerged through a painstaking and diligent investigation that the Federal Government under President Muhammadu Buhari got a total N2,203,573,573,563.25(Two trillion, two hundred and three billion, five hundred and seventy-three million, five hundred and seventy-three thousand, five hundred and sixty-three naira and twenty-five kobo) from the Federation Account as allocation between June 2015 and May 2016, Economic Confidential can authoritatively report.
In a recent search by the Economic Confidential, the economic intelligent magazine and carefully computed, the administration under Buhari’s watch got the highest allocation in July 2015 with N412.60 billion and the lowest allocation within the period under review of N113.80 billion in May 2016!
The report further reveals that in June 2015, the Federal Government received N173.91 billion made up of N159.72 billion for consolidated Revenue fund, N3.27bn for share of derivation and ecology, N1.63bn for Stabilization fund, N5.49bn for development of natural resources, and N3.78bn for the Federal Capital Territory Administration.
In August, September and October 2015, it received N216.99bn, N180.86bn and N162.93bn respectively. Between November and December 2015 the federal Government also got N205.15bn and N151.64bn to end the year.
At the start of 2016 and precisely January, it received N175.04bn made up of N160.87bn for consolidated revenue fund, N3.10bn for share of derivation and ecology, N1.77bn representing that of stabilization fund, while development of natural resources and FCT stood at N5.46bn and N3.82bn respectively.
As for the month of February, March and April this year it was the peak of “low returns on investment” as the federal Government witnessed in a descending order of N150.32bn, N139.36bn, N120.92bn to close the first quarter in a not too- cheering manner.
Recall that Economic Confidential had recently investigated and published the allocations from the federation account to states and local governments in the country in the last one year, apart from Internally Generated Revenue(IGR) accruing to the 36 states of the federation and Abuja. It has also published what major revenue collecting agencies have also received within the period.
The report on IGR indicated that only Lagos State generated more revenue than the allocation from the Federation Account which was about 150%. Economic Confidential also revealed that the internally generated revenue (IGR) of N268bn by Lagos state in 2015 is more than that of 32 other states put together that generated a total of N257bn.
Meanwhile Economic Confidential gathered that apart from the allocations from the Federation Account, as at the end of March this year, total inflows into the Treasury Single Account(TSA) of the Federal Government under President Buhari stood at N3 trillion while the number of Ministries, Departments and Agencies (MDAs) rose to 976.
However, Finance Minster, Kemi Adeosun recently disclosed that TSA has significantly witnessed an increase to N3.3 trillion in May 2016, noting that the Finance Ministry had continuously discovered revenue platforms that had escaped its net especially, shipping levies, airport landing charges, visa fees amongst others.
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Hmmm! So this government dey pack moni like this? Yet, the Economy is bad.
ReplyDelete... What did they do with the money? The hight of cluelesness incompetence corruption and selfishness
ReplyDeleteDem take am pay salaries and allowances of federal civil servants and other sundry expenses. Okay?
DeleteWhat is the percentage of the federal civil servants? What are supposed sundry expenses that gulped money from federation account and refuses to translate into economic buoyancy? This buhari led government is an apology with out recourse to intellectual and logical wit in governance
DeleteSai Buhariiiii
ReplyDeleteU are getting d. Money andd saving it and ppl are really dying no salaries businesses are collapsing. Abeg make una park 1 syd una no sabi d work.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteSo all these shout of no money and Nigeria is broke is for them to divert attention and start the real looting while they have no policy or project on ground! Devil is a liar! Pastor is even the number two man ooo! See money! The pastor must be too carnal or worldly to be involved in this monkey busibess of selfish politics of do or die politics. Pastor oshi!
ReplyDeleteWell, it shows that the 'recession' is just artificial. As it stands, the man controls the federation account himself. So once Nigerians are starved and broke, they'd beg or do anything he wants just so they have food in their mouths. Even when he says he wants his cattle to graze in every state or have the Fulani take whatever land they want anywhere they want. You'd have no power of strength to protest cos you are hungry. Heck, you can't even say anything against him in public except in your gossip corners. He has discovered that putting people in jail isn't going to go well for his international reputation (which he so dearly craves) so he has resorted to economically cripple everyone, gather the funds and then wherever possible, tell his counterparts in the Europe and America that unlike the previous govt, he's a prudent and corrupt free man. You see, he doesn't really care about Nigeria as much as he cares about how he is viewed in the West.
ReplyDeleteBut, hey.. That's just my opinion.
Nevertheless this govt cannot share our money anyhow that is chop I chop with out recourse to the future, you must know what you have before embarking on spending
ReplyDeleteDuring Akpabio's tenure Akwa Ibom State received over 4 trillion in eight years minus IGR from oil giants in the state, etc. This amounts to a quarter of what Buhari will receive in a projected eight years tenure to run 36 states plus manage finances in the federal exclusive lists, if he wins the next election. What did former governor of Akwa Ibom State achieve with it all the allocation? Today, the state's industry is barbing salons and barbecue chicken spots all over the place!
ReplyDeleteNDA impending face-off with the Nigeria govt with take away some of money too. Planning is needed as you all know. So let's be calm. Thanks
ReplyDeleteAkwa Ibom State received a quarter of that amount to run one state with less than four million people, yet no industry; only self-established barbing salons and chicken barbecue spots littered all over the state.
ReplyDeleteBuhari must not repeat the mistake that led to his being ousted by Babangida on August 27, 1985 which God initiated in his bid to obliterate the secularity of Nigeria. Any attempt this time around may be ruthless as a consequence. God does not need gun or human weapon to fight. Let those who are close to Buhari warn him to allow Nigerians practise their religion of choice and not to surreptitiously and strategically impose religion of his choice upon our land. He should not allow Satan to use him against the KING of kings and the LORD of lords who is mighty in battle.
ReplyDeleteEmpty heads.
ReplyDeleteThis article is a misleading. It quotes figures without comparison's so the public can think there is a lot of money being made by this govt. According to the report Aug-Oct, 1 quarter yielded over N1trillion (oil and gas and domestic oil marketing activities). FIRS generated more than this total revenue in 2014. So with same expenditure, this revenue is ridiculous and govt is very very broke. The priority job of this govt therefore is sadly not 'thief catching' (note that I used the word priority so not saying its not important). The priority is how do we raise revenues and reduce expenditure. All policies must work towards this else our suffering is just starting.
ReplyDelete