The Nigeria Extractive Industries Transparency Initiative, NEITI has said that twenty eight point six trillion naira was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax, VAT.
NEITI announced this in a statement by its Director of Communications and Advocacy, Orji Ogbonnaya Orji on its latest Fiscal Allocation and Statutory Disbursement, FASD Audit reports for the period 2012-2016 in Abuja.
It noted that apart from remittances to the Federation Account, the audit tracked statutory allocations and their applications with specific focus on nine states, four interventionist agencies, and five special funds.
The nine states covered were Rivers, Bayelsa, Akwa Ibom, Nasarawa, Delta, Ondo, Imo, Kano and Gombe.
It
also listed the Federal agencies as Niger Delta Development Commission, NDDC,
Petroleum Technology Development Fund, PTDF, Tertiary Education Trust Fund,
TETFUND; and Petroleum Products Pricing Regulatory Agency, PPPRA.
