The Federal Government deducted a total sum of N32bn from the allocations of states from the Federation Account in the month of April 2016 for different loans they incurred.
In a report by the Economic Confidential, the economic intelligence magazine, it appears Osun state is worse hit by the development and ranks number one, as its allocation for the month of April 2016 totaling N2.030 billion was wiped away by a deduction of N2.391 billion leaving a deficit of N361 million to be paid in the subsequent month by the state, and this represents a whopping 117.8 percent of the total allocation due the state from the federation account.
This mean that Osun state had nothing to take home for the month of April, 2016, as other means of survival had to be adopted to keep the ship sailing for the people of Osun State.
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