NEITI disclosed this on its latest Fiscal Allocation and Statutory Disbursement Audit report for the period 2012-2016, released in Abuja, on Sunday.
Giving a breakdown of the N28.58 trillion remitted to the Federation Account, NEITI noted that mineral source contributed highest sum of N18.15 trillion, after deductions for joint venture cash calls and subsidy claims. “The 774 local governments got N3.25 trillion. This is exclusive of N2.36 trillion 13 per cent derivation to the oil, gas and mining producing states,” it said.
It however noted that the plunge in global oil revenue from 2015 negatively affected mineral revenue remittances within the period. “NNPC’s net remittances to the Federation Account reduced from N2.38trillion in 2012 to N789billion in 2016.
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