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Economic Confidential,
November 2008
EXCESS CRUDE ACCOUNT:
OCTOBER BONUS OF N71BILLION AS AUGMENTATION TO 3 TIERS
The Economic Confidential discoverers that a sum of
N71.4 billion was taken from the excess crude account to augment the
budgetary shortfall at the meeting of the Federation Account
Allocation in October 2008. The total figure almost doubles the
allocation from the same source and purpose in the preceding month
of September 2008 where N31bn was disbursed. The essence of
augmentation is to enable the three tiers of government to continue
with their projects despite price fluctuations or reduction in the
volume of production. The amount of money that is allocated to each
state is standardized. The highest recipients in the second
disbursement (for Augmentation) during the meeting of the Federation
Account in October 2008 are Rivers State N4.3bnbn, Akwa Ibom N3bn,
Delta N2bn, Bayelsa N1.9bn and Ondo N1.2bn. Other recipients are
Lagos which receives N1bn, Kano N1.4bn, Katsina N1bn and Oyo State
gets N1bn.
While the Federal Government receives N32bn other states like Ekiti
gets N609mn, Nasarawa N599mn, Gombe N600mn, Ebonyi N577mn and Area
Council in FCT N114mn. Please see the other
Allocation for the same month from HERE
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Distribution to augment September budget difference |
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
|
|
S/NO |
STATES |
FED. & STATES ALLOCATION |
NET MINERAL REVENUE |
TOTAL (3+4) |
STATE NET |
LG NET ALLOCATION |
TOTAL |
S/NO |
|
|
1 |
ABIA |
402,273,114.03 |
103,842,305.59 |
506,115,419.62 |
506,115,419.62 |
268,318,549.65 |
774,433,969.27 |
1 |
|
|
2 |
ADAMAWA |
449,085,658.32 |
- |
449,085,658.32 |
449,085,658.32 |
345,299,851.72 |
794,385,510.05 |
2 |
|
|
3 |
AKWA IBOM |
454,320,983.87 |
2,152,582,357.01 |
2,606,903,340.88 |
2,606,903,340.88 |
455,381,042.82 |
3,062,284,383.70 |
3 |
|
|
4 |
ANAMBRA |
453,611,192.56 |
- |
453,611,192.56 |
453,611,192.56 |
342,296,383.37 |
795,907,575.93 |
4 |
|
|
5 |
BAUCHI |
526,108,236.75 |
- |
526,108,236.75 |
526,108,236.75 |
395,887,808.00 |
921,996,044.75 |
5 |
|
|
6 |
BAYELSA |
360,279,391.20 |
1,442,698,441.20 |
1,802,977,832.40 |
1,802,977,832.40 |
145,653,031.17 |
1,948,630,863.56 |
6 |
|
|
7 |
BENUE |
484,946,461.50 |
- |
484,946,461.50 |
484,946,461.50 |
402,537,536.50 |
887,483,998.00 |
7 |
|
|
8 |
BORNO |
535,071,755.05 |
- |
535,071,755.05 |
535,071,755.05 |
462,626,151.22 |
997,697,906.27 |
8 |
|
|
9 |
CROSS RIVER |
421,577,817.68 |
188,548,267.61 |
610,126,085.29 |
610,126,085.29 |
287,490,039.76 |
897,616,125.05 |
9 |
|
|
10 |
DELTA |
454,051,595.74 |
1,295,088,732.84 |
1,749,140,328.58 |
1,749,140,328.58 |
379,986,645.69 |
2,129,126,974.26 |
10 |
|
|
11 |
EBONYI |
372,309,426.27 |
- |
372,309,426.27 |
372,309,426.27 |
204,817,118.74 |
577,126,545.01 |
11 |
|
|
12 |
EDO |
423,778,657.85 |
21,964,196.81 |
445,742,854.67 |
445,742,854.67 |
287,745,796.79 |
733,488,651.45 |
12 |
|
|
13 |
EKITI |
375,551,527.50 |
- |
375,551,527.50 |
375,551,527.50 |
234,067,458.34 |
609,618,985.85 |
13 |
|
|
14 |
ENUGU |
423,712,288.49 |
- |
423,712,288.49 |
423,712,288.49 |
277,325,449.71 |
701,037,738.20 |
14 |
|
|
15 |
GOMBE |
398,306,207.80 |
- |
398,306,207.80 |
398,306,207.80 |
202,364,184.24 |
600,670,392.04 |
15 |
|
|
16 |
IMO |
452,361,040.71 |
147,465,932.12 |
599,826,972.83 |
599,826,972.83 |
401,546,926.55 |
1,001,373,899.38 |
16 |
|
|
17 |
JIGAWA |
496,877,935.59 |
- |
496,877,935.59 |
496,877,935.59 |
421,284,252.53 |
918,162,188.11 |
17 |
|
|
18 |
KADUNA |
566,297,407.08 |
- |
566,297,407.08 |
566,297,407.08 |
451,855,193.84 |
1,018,152,600.91 |
18 |
|
|
19 |
KANO |
709,746,592.74 |
- |
709,746,592.74 |
709,746,592.74 |
741,557,477.08 |
1,451,304,069.82 |
19 |
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