, 4 tweets, 2 min read Read on Twitter
For those who care to know what the distribution of revenue to all tiers of government by the FAAC has been in 2018, I have taken the pain to consolidate the figures as at Oct 2018. (see Chart) When the Nov & Dec 2018 figures are released, I will update the chart. #StateOfStates
You will notice that out of the N7 Trillion distributed in 2018, the FG has only collected 41% of it while States have collected 26%, LG 20% and derivation takes 8%. In fact since LG and Derivation goes to States, we can effectively say that 53% has gone to States. #StateOfStates
The other thing we need to note is that out of the entire amount available for distribution (N7 Trillion), 2.5% was deducted as cost of collection/refund while 4% was transferred to the ECA. This means we're spending as much as we're saving in ECA to collect Rev. #StateOfStates
I personally think that the cost of collection is too high and we should explore more efficient ways of collection to reduce the over-all cost. That said, it is obvious that we need to focus on States. So in the next coming days I will be sharing stats on #StateOfStates.
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