The Economic Confidential provides a table of the distribution of N143.6 billion from Foreign Excess Crude savings account shared by federal and state governments.
Excess Crude savings is the difference between the budgeted & actual receipts of revenue. For instance, benchmark crude oil price for this year is $75 (as suggested by the lawmakers) and the actual crude oil price is $111. The difference (excess) $36 per barrel is collected as the excess crude revenue and shared monthly by the three tiers of government.
The proceeds for December, 2011 was N143.6 billion and was shared in January in addition to the disbursement of N783 billion from the Federation.
The highest recipients of the Excess Crude Account are from the oil producing states. Akwa Ibom received N6.8 billion, Rivers N6.2 billion, Delta N5.8 billion, and Bayelsa N4.5 billion. Federal Government received N65 billion.
Follow the link below to see how the money was shared.Excess Crude N143.6 billion Shared in December 2011
Culled from Economic Confidential