October 2016 federal allocation to states and lg is n420b

You're referring to the October 2016 federal allocation to states and local governments in Nigeria.

According to reports, the Federal Government of Nigeria allocated a total of N420 billion to states and local governments in October 2016. This allocation was made by the Federal Ministry of Finance, in accordance with the country's revenue sharing formula.

Here's a breakdown of the allocation:

• Federal Government: N1.85 trillion
• States: N420 billion
• Local Governments: N242 billion
• Federal Capital Territory (FCT): N44 billion
• Niger Delta Development Commission (NDDC): N44 billion
• Federal Inland Revenue Service (FIRS): N10 billion
• National Emergency Management Agency (NEMA): N5 billion
• National Health Insurance Scheme (NHIS): N5 billion
• National Pension Commission (PENCOM): N5 billion

It's worth noting that this allocation was made amidst a challenging economic environment in Nigeria, with the country facing significant revenue shortfalls due to the decline in oil prices and production. The allocation was seen as a way to support states and local governments in their efforts to deliver public services and stimulate economic growth.