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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