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FG, states, LGs share N682.06bn in September

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4 years ago

Oct 31, 2020

The Federation Account Allocation Committee (FAAC) disbursed the sum of N682.06 billion to the three tiers of government in September 2020.

This is contained in the latest monthly FAAC report released by the National Bureau of Statistics.

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According to the report, the federal allocation of N682.06 billion disbursed to the three tiers (FG, States and LGAs) indicates a 1 per cent marginal increase when compared to N676.4 billion disbursed in August 2020.

A closer look at the figures showed that in September, the Federal Government received a total of N272.90 billion (40 per cent), States received a total of N197.65 billion (21.6 per cent) and Local Governments received N147.42 billion (21.6 per cent).

Meanwhile, the oil producing states in the country shared a sum of N30.88 billion (4.5 per cent) as 13 per cent derivation fund.

In addition, revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N6.66 billion (1 per cent), N13.48 billion (2 per cent) and N5.70 billion (0.8 per cent) respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N196.56 billion was disbursed to the FGN consolidated revenue account; N4.78 billion was disbursed as share of derivation and ecology; N2.39 billion as stabilization fund; N8.03 billion was for the development of natural resources; and N6.12 billion to the Federal Capital Territory (FCT) Abuja.

3.4% rise in States’ federal allocation

In the month under review, September 2020, allocation to states rose by 3.4 per cent to N197.65 billion compared to N198.8 billion recorded in the previous month.

The top five states with the largest share of monthly allocation in September are Delta (N13.8 billion), Lagos (N11.44 billion), Rivers (N11.04 billion), Akwa Ibom (10.33 billion) and Bayelsa (N8.33billion).

On the flip side, the top five states at the bottom of the ranking are Ekiti (N3.8 billion), Ogun (N3.7 billion), Plateau (N3.6 billion), Osun (N3.24 billion), and Cross River (N3.23 billion).