Lagos – Newly-released data by the National Bureau of Statistics, NBS, show that Delta and Akwa Ibom states received the highest allocations from the Federation Account Allocation Committee, FAAC, in 2020.
The total FAAC net allocation to state governments stood at N2.3 trillion, with Delta and Akwa Ibom receiving the highest allocation of N186.83 billion and N146.27 billion respectively.
Crude oil is Nigeria’s main revenue earner, and Delta and Akwa Ibom play host to the highest crude deposits and account for the highest volume of oil production in the country, and in the process, contributing immensely to the country’s revenue.
According to the NBS data, the Committee disbursed the sum of N2.49 trillion to the Federal Government in 2020, while states received a total of N2.30 trillion within the period under review.
In 2020, Osun and Cross River states received the least allocation of N30.63 billion and N32.89 billion respectively.