A COMBINATION of all the 36 States in Nigerian received a total of about N4 trillion from oil revenue in 2018.
The Nigerian Extractive Industries Transparency Initiative (NEITI) disclosed this yesterday in the latest edition of its Quarterly Review entitled “Insights from states’ 2018 total revenue profiles” while regretting that none of the states could fund their 2018 budget from their total revenue for the year.
According to the national transparency watchdog, the gap between total revenues and budgets ranged between N28billion in Enugu and N1.2trillion in Cross River, adding that the total revenues to the states came from disbursements from the Federation Accounts and Allocation Committee (FAAC) and receipts from Internally Generated Revenues (IGR).
NEITI further gave a breakdown of receipts from FAAC allocations to stand at N2.849trillion while N1.103trillion was internally generated revenue (IGR) by all the states.
“While total FAAC allocations were N2.849 trillion, total deductions were N355.761 meaning that a total of N2.494 trillion represented actual net FAAC disbursements to the states. In 2018, after deductions, the combined total (net) revenue of all states was N3.597 trillion,” the release reads.
NEITI also explained that the analysis was based data obtained from National Bureau of Statistics (NBS), Office of Accountant General of the Federation and the Fiscal Disbursement Unit of NEITI.