Finance Ministry gives breakdown of how N6.21trn of Excess Crude funds was shared

isaac

May 25, 2015 5:56 PM

The Ministry of Finance has given a breakdown of how money were shared between the Federal Government and states in the country.

Ngozi Okonjo-Iweala

It has now been revealed how the the Federal and state governments in Nigeria shared a total of N6.21 trillion accrued from the Excess Crude Account in the last four years.

The report was published by the Federal Ministry of Finance, putting the amount given to the Federal Government at N3.29 trillion while the 36 states and the FCT got a total of N2.92 trillion.

In a statement signed by the Special Adviser to the Minister of Finance, Dr. Ngozi Okonjo-Iweala, Paul Nwabuikwu, N966.6 billion was distributed in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 went round in 2014.

Each state of the federation got the following amount for the four years:

The states that got the highest amount were?

Akwa Ibom (N265 billion)

Rivers (N230.4 billion)

Delta (N216.7 billion)

Bayelsa (N176.3 billion)

Kano (N106.5 billion)

Lagos (N82.9 billion)

Those that got the least were:

Kwara (N52.8 billion)

Enugu (N51.6 billion)

Gombe (N47.7 billion)