President Muhammadu BuhariThe Federal Government of President Muhammadu Buhari received N2.2 trillion from the Federation Account in one year, starting with over N400 billion in July last year and ending with just a little above N100 billion in May this year, as oil prices continued to collapse and Niger Delta Avengers stepped up attacks in the oil-rich but highly impoverished region.
The attacks by the Avengers, a militant group that has demanded the independence of the Niger Delta region, crumbled Nigeria’s oil output to its lowest level in 20 years, and significantly reduced the amount of money being shared by Nigeria’s 36 states as well as the Federal Government.
On Sunday, the Ogun state government celebrated with a statement to journalists that it was able to pay July salaries “despite all odds”.
The financial crisis Nigeria is experiencing is making paying salaries to civil servants something of a big achievements.
The Economic Confidential magazine, which computed all the figures, said in its latest report that the Federal Government went from receiving its highest allocation in July 2015 with N412.60 billion to its lowest allocation of N113.80 billion in May 2016 as things got worse in the oil sector.