Not less than N1.4 trillion was shared by the federal government, the 36 states of the federation and the 774 local government areas, LGAs, from the Federation Account, in the first quarter of this year.
The three tiers of government shared N430.16 billion in January with the federal government taking N168 billion; states, N114.28 billion; and local governments, N85.4 billion.
The amount shared increased to N514 billion in February with the federal government getting N200.6 billion; states, N128.4 billion and local governments, N96.52 billion.
The revenue, however, declined in March, to N466.9 billion, out of which the federal government got N180.5 billion; state governments, N116.5 billion and local governments, N87.5 billion.
The key agencies that remit funds into the Federation Account are the Nigerian National Petroleum Corporation, NNPC, Federal Inland Revenue Service, FIRS, and the Nigeria Customs Service, NSC.
The report released at the weekend showed that before the distribution of the revenue, the states’ respective liabilities were deducted.
The liabilities paid by the states in the first quarter included an external debts of N8.73 billion, contractual obligations of N30.15 billion and other deductions amounting to N50.23 billion.
Others are deductions for national water rehabilitation projects, national agricultural technology support, payments for fertilizer, state water supply project, state agriculture project and national Fadama project.