Ogun, Lagos can survive without federal allocation, says report

Ogun State governor, Ibikunle Amosun,

Ogun and Lagos states have been rated as the only states in Nigeria that can survive without the monthly allocation from the federation account.

Economic Confidential magazine in its report released on Monday, said both states were the only states whose internally generated revenue (IGR) far exceeded the allocation they received from the federation account in 2016.

Ogun state’s IGR, according to the statistics was 127 per cent higher than the allocation it received in 2016, while IGR of Lagos state was 169 per cent higher than its 2016 allocation.

For the period under review, Ogun state received N57 billion allocation while it generated IGR totalling N72 billion

Also Lagos state generated IGR of N302 billion against allocation of N178 billion from the federation account.

Trailing the two states, Rivers’ state’s IGR is 63 per cent of the received allocation, Edo (38 per cent), and Kwara (35 per cent).

The magazine said none of the remaining 34 states and Federal Capital Territory generated IGR that was up to 100 per cent of their 2016 allocation.

The states that may not survive without the federation allocation due to poor internal revenue generation, according to the report, include Borno which realised a meagre N2.6 billion compared to a total of N73.8 billion it received from the Federation Account Allocation in 2016, representing about 4 per cent.

Others are Ebonyi with IGR of N2.3 billion compared to FAA of N46.6 billion representing 5 per cent; Kebbi with N3.1 billion compared to FAA of N60.88 billion representing 5.14 per cent; Jigawa with N3.5 billion compared to N68.52 billionof FAA representing 5.15 per cent and Yobe with IGR of N3.24 billion compared to N53.93 billion of FAA representing 6 per cent within the period under review.

Other poor internal revenue earners are Gombe which generated N2.94 billion compared to FAA of N46 billion representing 6.26 per cent; Ekiti with N2.99 billion compared to FAA of N47.56 billion representing 6.28 per cent; Katsina with N5.54 billion compared to FAA of N83 billion representing 6.65 per cent and Sokoto with N4.54 billion compared to FAA of N65.97 billion representing 6.88 per cent.

DOWNLOAD THE ROCKCITYFM APP AND LISTEN LIVE

Please subscribe to our newsletter

CONTACT US

Do you have any request or enquiry? Do not hesitate to send us an email and we'll get back to you, asap.

Sending

©2020 RockcityFM The Voice of the People

Need Help? Chat with us
or

Log in with your credentials

or    

Forgot your details?

or

Create Account