Despite the trillions of naira that was reportedly accrued to the Federal government account in less than one year, millions of Nigerians still live below poverty line, without any means of survival.
Reports have revealed that President Muhammadu Buhari’s administration received a total of N2, 203,573,573,563.25 from the Federation Account as allocation between June 2015 and May 2016.
In a recent survey conducted by the Economic Confidential, it stated that during the period under review, the administration got the highest allocation in July 2015 with N412.60 billion and the lowest allocation of N113.80 billion in May 2016.
The report further revealed that in June 2015, the Federal Government received N173.91 billion made up of N159.72 billion for Consolidated Revenue Fund, N3.27 billion for share of derivation and ecology, N1.63 billion for Stabilisation Fund, N5.49 billion for development of natural resources and N3.78 billion for the Federal Capital Territory Administration.
In August, September and October 2015, it received N216.99 billion, N180.86 billion and N162.93 billion respectively. Between November and December 2015, the Federal Government also got N205.15 billion and N151.64 billion to end the year.
In January 2016, it received N175.04 billion made up of N160.87 billion for consolidated revenue fund, N3.10 billion for share of derivation and ecology, N1.77 billion representing that of stabilisation fund, while development of natural resources and FCT stood at N5.46 billion and N3.82 billion respectively.
However, in the subsequent three months, the Federal Government witnessed a drastic reduction in revenue in a descending order of N150.32 billion, N139.36 billion, N120.92 billion for February, March and April respectively.
Meanwhile, total inflows into the Treasury Single Account, TSA, of the Federal Government under President Buhari stood at N3 trillion, while the number of Ministries, Departments and Agencies MDAs rose to 976.
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