Abia’s Alleged N38B Monthly Revenue: Obinna Oriaku Backs Ben Kalu, Says A State’s Total Revenue Includes FAAC, JAAC, Interventions, Palliatives, Dividends And IGR

A Former commissioner for finance in Abia state and current commissioner representing Abia state at the Federal Character Commission Hon. Obinna Oriaku has thrown his weight behind the deputy speakers assertion that Abia state gets about N38B monthly in revenue.

Read full text of Hon Oriaku’s Position:

Somebody Help Me, Please. Ekwedike is here to assist in this regards.

I had personally decided to stay offline for three days as a mark of respect to my revered man of God, Dr. Uma Ukpai.

However, due to the sensitivity of this matter and the need to address it directly ,especially since you sort for clarification, I have chosen to suspend that decision.

Though my name was not mentioned, I believe it is important to clarify my position, especially since I am perceived as the architect of the ₦38 billion allocation figure revenue for Abia State in the months of April, May, and June 2025, as captured in the state’s second-quarter financial report a document duly prepared and signed by the state’s authorized signatories, the Accountant General and the Commissioner for Finance.

No matter how intelligent I maybe, I must be taught the rudiments of law Practice hence there is court attachment for new entrants into that noble profession. “Non learned” Professionals in other areas will have to be tutored on dynamics of law practice.

Financial matters are also highly technical, and I appreciate that clarification has been sought on this issue. I am pleased that you acknowledge my background in financial management, beyond being a seasoned banker , but having served as Commissioner for Finance (2015–2019). Prior to that, I worked as an official banker to former Enugu State Governor Chimaroke Nnamani’s administration from 2005 to 2007, and throughout the eight years of Sullivan Chime’s administration 2007 to 2014. While in Abia State , I served as Economic Adviser then, Commissioner for Finance . I strongly feel I have good knowledge of workings of public sector finance/ management and feel very upset when some Government aides deliberately wants to distort facts just to deceive the people for reasons I don’t know .

The acronym” Federal Account Allocation Committee (FAAC) is used interchangeably by analysts depending; at times it represents only State’s allocation and also represents (JAAC) Joint Account Allocation Committee which includes allocation for the local governments. There is need for clarity anytime the acronym FAAC is used in expressing figures received at the end of every month .

It is important to note that the figure in question as referenced in your piece represents ONLY the FAAC (Federation Account Allocation Committee) receipts of the state within the period under review. It does not include the JAAC (Joint Account Allocation Committee) funds, which together make up the total FAAC account for the state.

You will recall that earlier ,The (CPS)Chief Press Secretary to the Governor had earlier published the combined FAAC and JAAC figures, showing an average monthly receipt ₦22–₦26 billion of Feb to August 2025, as published by the Office of the Accountant General of the Federation Abuja. Those figures are totally different from what you posted.

What Hon. Benjamin Kalu stated which is correct is also consistent with Abia state Government position: Attached document from the (SEFTAS )report stated that Abia State received a total of ₦114 billion, comprising ₦101 billion as its share of FAAC and ₦13.3 billion as internally generated revenue (IGR), according to the Second Quarter 2025 Financial Report . This has always been our reliable reference, even during your time in government especially as it was prepared by the State which was also supervised by my office while I served.

To be clear, a state’s total revenue consists of its FAAC share including JAAC, all intervention funds including palliatives and LNG dividends as well as its IGR and any loan or grant that falls within the period under review .

Abia State Government during first QTR January to March 2025 stated in their published Financial report that Abia State made total revenue of N86b which translates to N28b total revenue per month. In second Quarter ,April to June 2025, Abia state total revenue was N114b which translates to N38b per month. We are expecting the Third Quarter, July to September 2025 financial publication next week. It should have been out by now . I don’t want to believe, its being doctored because of the revelation of N38b which has exposed the Government to the people .

Many Abains had concluded that it is the ingenuity and financial reengineering prowess of the administration that made them pay salaries and pension and deliver few roads and other projects unlike past administration. They never knew the total revenue accruing to the State is this humongous. “Chiaaa” N38b after every 28days. Nnam Ururuaja , as they say ego nmbu “Catholic”.This guys are lucky oo..I remember N1.8b as FAAC in December 2015 and total revenue of N3.6B (JAAC inclusive). Na whooo. I remembered that total salaries and pension including subvention was N2.4b against N1.8b FAAC while Local Government salary; pension and stipends for Nde Eze was about N1.7b while allocation was N1.6b Dee Charles Ogbonna was Commissioner for local Government while State IGR was N450m. Nna , Hafu madu mgbaliri that time ivuuu aha ojoooo.

There is no doubt that the recent institutional reforms such as the removal of fuel subsidy, floating of the naira, and increase in crude oil production from 800,000 barrels to 1.7 million barrels per day have significantly increased allocations to states.

All governors have acknowledged the impact of these reforms, as many states now embark on multi-billion-naira projects, unlike in the past when they relied on borrowing to pay salaries. That’s why many believe that President Tinubu needs his flowers. If he choose to be loved by all as” an ice cream dealer, States will still be borrowing from Commercial banks to pay salaries and other obligations like past administrations . Some states especially oil producing States make as much as N60b total monthly revenue. You know they say Government is “Okonkoo”, you don’t say all you see, hear or know .

Thank you Ururuaja my brother. Ndewoo. De ejee as they say in my second home Enugu (coal city ). Nnooo .

Ekwedike