The top 10 states that received the highest amount from the Federation Account Allocation Committee, FAAC, in 2020 got a total of N1.03 trillion, analyses of the latest data on FAAC allocation by the National Bureau of Statistics has shown.
This represented 44.78 per cent of the N2.3 trillion disbursed to all the 36 states in 2020.
The top five states are Delta (N186.83 billion), Akwa Ibom ( N146.27 billion), Rivers (N141.19 billion), Bayelsa (N116.4 billion), and Lagos (N115.93 billion).
Others are Kano (N81.27 billion), Kaduna (N63.13 billion), Katsina (N61.39 billion), Borno (N60.08 billion) and Edo (N58.41 billion).
In 2020, the FAAC disbursed the sum of N 2.49 trillion to the Federal Government of Nigeria in 2020 while states received a total of N2.30 trillion within the same period.
The NBS data showed that the months with the highest net allocation were January and August with N243.45 billion and N232.34 billion, respectively.
The least amount disbursed to the Federal Government of Nigeria in 2020 where in December and November with N160.59 billion and N176.29 billion, respectively.
Osun and Cross River States received the least allocation of N30.63billion and N32.89billion.
Also, Gbetiokun Derivation and Suko Derivation accounted for N1.03bn and N994.94m respectively.
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Every month, the federal government, the 36 states and the over 774 local government areas meet with the Federation Account Allocation Committee to share revenue generated from the sale of crude oil.
At the meeting attended by representatives of the Federal and State Governments, revenue generated in the month is distributed among the three tiers of government, other agencies and special saving fund accounts.
All the tiers of government are meant to use the funds alongside their Internally Generated Revenues (IGR) to take care of their recurrent expenditures, capital projects and other needs.
