The 774 Local Government Councils of the Federation shared N1.41 trillion form the Federation Account in the first half of year 2024.
The was contained in the monthly releases by the Nigeria Bureau of Statistics, NBS.
According to The Nation, the amounts distributed by Federation Account Allocation Committee, FAAC, to the 774 council, however, varies.
“The releases also indicated a huge rise in the fund received by the Local Governments during the period, The Nation noted.
“In January, N288.93 billion was credited to them by the Commission. N278.04 billion in February. N267.15 billion in March. N288.69 billion in April. N293.82 billion in May, and 282.48 billion in June.
The allocations are crucial in paying the Councils’ workers salaries. And implementing community development projects at the grass root.
Recall that the Supreme Court in July, ordered direct allocation from the Federation Account to the Local Government account.
Before that judgment, funds for Local Government were sent to the State/Local Government Joint Account, JAAC. It is from where the funds were disbursed to the Councils under the authority of Governors.
Many hailed the Supreme Court ruling, maintaining that the absence of development at grassroots was due to lack of funds. They contended that Councils don’t get more than a little from what was allocated to them.
Therefore, there are great expectations that with direct funding to the Local Governments a greater development at the grassroots will be facilitated.
However, many of the Governors are displeased with the apex court judgment. The feeling of the Governors was echoed by the Oyo State Governor, Seyi Makinde. It was also reechoed by the Bauchi State Governor, Bala Mohammed. Both Governors have grumbled aloud about the Supreme Court verdict.
According to NBS, States also received substantial allocations during the same period. The allocations were complemented by the 13 percent derivation fund, a special allocation to oil-producing States.
It noted that in January the States got N396.69 billion and N57.92 billion to oil-producing States.
“They received N379.41 billion in February, with N85.10 billion for the oil-producing states.
“March allocation to the States was N366.95 billion. This is in addition to N166.24 billion for oil-producing States.
“April saw States getting N398.69 billion with N90.12 billion for oil-producing States.
“In May 2024, it was N493.40 billion, with N120.45 billion released to oil-producing States. And in June, States received N388.42 billion and N106.50 billion for oil-producing States.
source: The Nation
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