Summary Of Subsidy Savings For The Month Of January 2014 By Okonjo-Iweala

As has become the tradition, the oil big four of Akwa Ibom, Delta, Rivers and Bayelsa got the biggest share among states as the Federal Government of Nigeria, the 36 states, the 774 local governments and the Federal Capital Territory (FCT) shared a total of N35,549,235,691.43 being fuel subsidy savings for January 2014.

Figures released yesterday in Abuja by the Office of the Accountant-General of the Federation showed that the Federal Government and FCT received 16,292,783,505.15 while the 36 states shared N12,885,318,165.66 and the 774 local governments got N6,371,134,020.62.

The Subsidy Savings for the month is based on benchmark of $90/barrel and at partial subsidy phase out of N97 per litre, according to the Office of the Accountant-General of the Federation.

Akwa Ibom received N1,744,976,089.75; Delta, N1,196,382,775.98; Rivers, N1,107,748,692.16; and Bayelsa, N1,040,490,149.22.

None of the lowest-earning states received up to N200 million. They are Kwara, N193,988,107.42; Ekiti, N194,856,854.59; Ebonyi, N194,966,873.26; and Osun, N198,753,135.55.

Coordinating Minister for the Economy & Minister of Finance, Dr. Ngozi Okonjo-Iweala, said the details were being made public because “at the inception of the Subsidy Reinvestment and Empowerment Programme (SURE-P), the Jonathan administration made solemn commitment to the transparent and accountable implementation of the programme.”

SUMMARY OF SUBSIDY SAVINGS FOR THE MONTH OF JAN. 2014

1 Federal Government N15,000,000,000.00

2 FGN Share of Derivation & Ecology N309,278,350.52

3 Federal Capital Territory N309,278,350.52

4 Stabilization Account N154,639,175.26

5 FGN Share of Development of Natural Resources N519,587,628.87

S/NO STATES (INCLUDING 13% DERIVATION)

1 ABIA N251,387,752.83

2 ADAMAWA N217,088,669.81

3 AKWA IBOM N1,744,976,089.75

4 ANAMBRA N216,681,979.74

5 BAUCHI N260,675,681.33

6 BAYELSA N1,040,490,149.22

7 BENUE N244,400,302.37

8 BORNO N270,760,509.04

9 CROSS RIVER N219,143,424.40

10 DELTA N1,196,382,775.98

11 EBONYI N194,966,873.26

12 EDO N330,769,567.92

13 EKITI N194,856,854.59

14 ENUGU N219,162,337.96

15 GOMBE N205,269,599.19

16 IMO N268,453,328.75

17 JIGAWA N243,709,519.13

18 KADUNA N285,534,047.62

19 KANO N345,670,753.12

20 KATSINA N267,884,995.89

21 KEBBI N230,114,547.96

22 KOGI N240,860,462.34

23 KWARA N193,988,107.42

24 LAGOS N291,941,375.68

25 NASSARAWA N200,972,096.12

26 NIGER N258,139,709.38

27 OGUN N202,464,716.23

28 ONDO N386,706,525.39

29 OSUN N198,753,135.55

30 OYO N244,427,305.69

31 PLATEAU N227,569,876.43

32 RIVERS N1,107,748,692.16

33 SOKOTO N240,175,066.06

34 TARABA N209,923,042.47

35 YOBE 216,403,709.08

36 ZAMFARA N216,864,585.79