Pegasus Reporters Issues on the Wing
“Nigerians need to interrogate their state governors on how they manage their finances … In many of the states there is nothing to show for the huge cash inflow from the centre”
* Chief Bayo Onanuga
PEGASUS REPORTERS, LAGOS | OCTOBER 21, 2023
The Special Adviser to the President on Information and Strategy, Chief Bayo Onanuga has urged Nigerians to inquire from their state governor on what the shared Federal Account Allocation Committee (FAAC) disbursement since June 2015 and May 2023 was used for.
In a budgetary analysis disclosed by #StatiSense in a social network ‘X’, the account pointed out Six States had received over One (1) trillion naira during the prior administration led by ex-President Mohammadu Buhari.
The net FAAC allocated between June 2015 and May 2023 evaluated that Delta State received the highest allocation of about N1.999 trillion come next was Akwa Ibom State the governors collected N1.870 trillion, and Lagos State, a major African financial center and economic hub in Nigeria amassed N1.792 trillion while, River State reaped a national benefit of N1.755 trillion.
The 5th and 6th States respectively were Kano which was allocated about N1.332 trillion and Bayelsa procured a whopping sum of N1.240 trillion.
Onanuga in his X account frowned at the multidimensional deformity of poor people in the aforementioned states, springing statistically; Bayelsa at 88.5%, Akwa-Ibom at 71.3%, Kano at 66.3%, Rivers at 62.3%, Delta at 47.6%, and Lagos at 29.4%.
“Nigerians need to interrogate their state governors on how they manage their finances,” Onanuga advised.
Continuing, “In many of the states there is nothing to show for the huge cash inflow from the centre,” he affirmed.
However, all tiers of Government depend on revenue from the Federal Account Allocation Committee (FAAC) to finance development projects and Section 165 of the Constitution of the Federal Republic of Nigeria 1999 as well as the Allocation of Revenue (Federation Account, etc.) Act No.1 1982, stipulates that the revenues generated by the Federal government should be credited into the Federation Account and disbursed monthly among the three tiers of government as defined in the Revenue Act 1982.
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