Akwa Ibom, Rivers top states with highest net statutory allocation

The first half of the year is gone and states, most of whom depend on statutory allocation from the top, had some form of relief following a horrendous 2016 which saw the amount available for sharing plummet rapidly due to concurrent issues surrounding foreign exchange, oil price slump and militancy in the Niger Delta.

Akwa Ibom state top other states of the federation as the state with the highest net statutory allocation in the first half of 2017, National Daily investigation has gathered.

Collecting about N68.9 billion as statuary allocations in H1 2017. Its case was certainly helped by having the least deductions among the top 5 with just N6.5 billion. However, not even with deductions added to their net allocations could any of the states match up with Akwa Ibom.

River state came second with N53.5 billion or an average of N9 billion monthly for H1 2017. This excludes the about N10.35 billion removed as deductions.

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Home to former President Goodluck Jonathan, Bayelsa State continued the dominance of oil-producing states on this list by coming in third with N46.59 billion received as statuary allocation in H1 2017. This figure could have been as high as N55.6 billion if not for the N8.99 billion deductions made.

With a little over than N2 billion on top of Lagos’ allocation, the oil production state also suffered from high deductions, shelling out N14.21 billion as deductions. This represents 34.6% of its N14.66 billion net statuary allocation in H1 2017

The commercial nerve point of the country got N39.61 billion following its inclusion among the oil-producing states, hence its entitlement to the 13% derivation allocation. Despite the fact that the state has the highest Internally Generated Revenue, it comes in at 5th on this list. It’s 13.71 billion (or 34.6% of its net allocation) deductions did not help matters as it followed the high level of deductions observed in the South Western states.