Edo state lost about N10 billion over four years because of unshared proceeds from the Federation Account during the Goodluck Jonathan administration, according to the state governor, Adams Oshiomhole.
The governor made the claim on Friday when he spoke to State House correspondents after he met behind closed-doors with President Muhammadu Buhari, at the Presidential Villa.
Oshiomhole who emerged from the meeting with former governor of Rivers state, Rotimi Amaechi, said the loss in federal revenue suffered by Edo state, and others was because the Jonathan government did not share with the states all federally collected revenues as required by law.
He gave the example of the $1.6b remitted last month by the Nigeria Liquefied Natural Gas (NLNG) firm and smaller amounts by Shell and others as taxes, and which was only shared for the first time as bailout to the three tiers of government.
Oshiomhole explained that if the remittances had been done under the Jonathan administration, with Ngozi Okonjo-Iweala as the Finance Minister, the money would not have gotten to the states.
He thus arrived at the conclusion that Edo state alone, which he described as one of the lowest federal revenue earners, would have received up to N10 billion over a period of the last four years if NLNG taxes were shared out to states.
The governor thus commended the new approach to transparency and respect for regulations adopted by the new administration of President Buhari, a reason the governors are happy with him.
His words; “It is not just about the bailout but it is completely a new approach that anybody who is a stakeholder in the matters involving the funds of the federation can see through everything.
“What was extraordinary is that the NLNG has over the years been remmitting funds to the federal government but the federal government illegally refused to transfer these funds to the consolidated revenue fund which belongs to the three tiers of government.
sources :Nigerian monitor
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