The National Bureau of Statistics (NBS) on Thursday, February 11, released the report of the December 2020 disbursement of the monthly allocations from the Federation Account Allocation Committee (FAAC).
According to the NBS, FAAC disbursed the sum of N601.11bn to the three tiers of government, that is the federal, state and local governments, in December 2020 from the revenue generated in November 2020.
In this piece, Legit.ng provides a breakdown of how much the federal, state and the local governments got and other important details.
Sources of the disbursed fund
1. Statutory Account - N436.46bn
2. FOREX Equalisation Account - N7.87bn
3. Value Added Tax - N156.79bn
Total amount shared by FG, states and LGAs
1. Federal Government - N215.60bn
2. States - N171.17bn
3. LGAs - N126.79bn
4. 13% derivation fund shared among the oil-producing states - N31.39bn
Revenue generating agencies
Legit.ng gathers that the agencies collected the fund as cost of revenue collections.
1. Nigeria Customs Service (NCS) - N7.87bn
2. Federal Inland Revenue Service (FIRS) - N9.41bn
3. Department of Petroleum Resources (DPR) - N3.98bn
The figures given below are the Gross Total, that's the Gross Statutory Allocation plus 13% derivation, where applicable.
1. FCT - N2,636,349,331.05
2. Abia - N2,725,573,706.34 (plus 13% derivation)
3. Adamawa - N2,533,228,542.88
4. Akwa Ibom - N9,525,021,262.99 (plus 13% derivation)
5. Anambra - N2,528,482,837.44
6. Bauchi - N3,041,849,567.55
7. Bayelsa - N7,305,875,525.84 (plus 13% derivation)
8. Benue - N2,851,930,607.00
9. Borno - N3,159,530,390.93
10. Cross River - N2,557,205,671.63
11. Delta - N12,391,554,363.96 (plus 13% derivation)
12. Ebonyi - N2,275,087,173.77
13. Edo - N3,388,632,115.37 (plus 13% derivation)
14. Ekiti - N2,273,803,355.34
15. Enugu - N2,557,426,375.75
16. Gombe - N2,395,310,672.48
17. Imo - N3,328,199,887.28 (plus 13% derivation)
18. Jigawa - N2,843,869,791.00
19. Kaduna - N3,331,924,231.91
20. Kano - N4,033,665,225.44
21. Katsina - N3,125,975,751.80
22. Kebbi - N2,685,228,766.44
23. Kogi - N2,810,623,873.67
24. Kwara - N2,263,665,861.23
25. Lagos - N3,406,691,958.53
26. Nasarawa - N2,345,162,696.29
27. Niger - N3,012,257,067.32
28. Ogun - N2,362,580,223.78
29. Ondo - N3,118,015,835.51 (plus 13% derivation)
30. Osun - N2,319,269,432.22
31. Oyo - N 2,852,245,711.37
32. Plateau - N2,655,534,749.87
33. Rivers - N8,143,229,804.88 (plus 13% derivation)
34. Sokoto - N2,802,625,918.64
35. Taraba - N2,449,612,149.17
36. Yobe - N2,525,235,670.34
37. Zamfara - N2,530,613,684.96
Meanwhile, Lagos state remains an investor’s favourite in Nigeria as it tops the list of states that attracted the most investments in 2020, outshining other states and the Federal Capital Territory (FCT).
According to the NBS, Lagos, Nigeria's economic nerve centre, attracted $8.31 billion in investments.
This represents 85.7 per cent of the total capital inflow into the country in the year 2020.
Nurudeen Lawal is a Legit.ng journalist passionate about fact-checking/verification journalism.
He holds a Bachelor of Arts degree in Literature-in-English from Obafemi Awolowo University, Ile-Ife, Osun State.
As Politics Editor, Nurudeen mostly writes on Nigeria’s political and socio-economic developments.
He has attended different workshops, conferences and training on fact-checking and digital reporting, among others. Learn more about him on Twitter, @Nurudeen Lawal_