The Cross River State Government received only about 15% of its statutory allocation from the Federation Account in March.
Out of the state’s gross allocation of N2.22bn, only N34.9m was received by the state as N2.18bn was deducted to service debts incurred by the previous administration.
A statement titled, “Cross River gets N34 Million from FAAC for March” said that this is coming after the state received a meager N170m in February.
It read, “For a second successive month, Cross River State’s allocation from Federal Allocation is in the negative.
“Figures just released shows that the state’s net statutory allocation for the month of March is N34,960,344.53.
“While the state earned a gross statutory allocation of N2,222,635,051.79, a whopping N2,187,674,707.27, was deducted at source to service debts incurred by previous administrations.
“This is coming on the heels of a similar abysmal figure of one hundred and seventy one million naira allocation for the month of February, 2022. Financial analysts believe that it is nothing short of a miracle that the state has not ground to a halt.”
Meanwhile, the Kwara State Government has received a total inflow of N2,886,631,784.67 as federal allocation for the month of March.
A statement from the state Ministry of Finance quoted the Press Secretary, Babatunde Abdulrasheed, as explaining that the March allocation showed an improvement over what was received by the state in February.