The Nigeria Extractive Industries Transparency Initiative (NEITI) on Thursday disclosed that the six states making up the South-South geo-political region of Nigeria received the highest allocation from the Federation Accounts Allocation Committee in the first quarter of 2018 totalling N206.25 billion.
By this figure, Bayelsa, Rivers, Delta, Akwa Ibom, Edo and Cross River states were allocated a third of the total revenue shared among the 36 states in Nigeria, being 30.2 per cent in the first quarter of 2018.
A breadown of the allocation to the South-South states showed that, Bayelsa State got N38.90 billion; Rivers State, N42.75 billion and Delta State N49.44 billion respectively. Akwa Ibom State got the lion share of N50.88 billion, while Edo State got N15.87 billion with the least amount, N8.41 billion going to Cross River State.
The sharing of N1.938 trillion in the first quarter of 2018 by the three tiers of Government in Nigeria (Federal, States and Local Governments) represents an increase of 37.3 per cent when compared with N1.411 trillion shared during the same period in 2017 and 71.1 per cent of the N1.132 trillion shared in the same quarter of 2016.
The NEITI report explained that the Federal Government received N812.8 billion; the 36 states got N683.4 billion, while N393.3 billion went to the 774 local governments.