FAAC payout to states, LGAs, others drops by N700bn in 2020

In 2020, the total amount shared from the Federation Account Allocation Committee (FAAC) to the three tiers of government and revenue collecting agencies were N7.33 trillion, N700.6 billion less when compared to the N8.10 trillion in 2019.

This is according to data sourced from the websites of the National Bureau of Statistics (NBS) and analysed by Ripples Nigeria.

Out of the FAAC funds shared, the 36 states of the federation collected N2.13trillion. 774 local governments got N1.59 trillion while nine oil-producing states pocketed an additional N466 billion as 13 percent of oil revenue derivation.

In 2019, however, the figure was higher as states shared N2.29 trillion; LGAs received N1.74 trillion and N545.546 billion as 13 percent of oil revenue derivation, highlighting the critical revenue challenges faced in 2020 by government and businesses.

Breakdown of the monthly distribution showed the year opened with the three tiers of government sharing the sum of N716 billion in January 2020 from the revenue generated in December 2019 higher than N649 billion shared in January of 2019 from the revenue generated in December 2018.

Federal Government received a total of N287.93bn from the N716.30bn. States received a total of N191.30bn and Local governments received N143.70bn. The sum of N50.28bn was shared among the oil-producing states as 13% derivation fund.

In February, the amount shared dropped to N647 billion from which the Federal Government received a total of N267.39bn from the N647.35bn. States received a total of N176.92bn and Local Governments received N132.94bn. The sum of N46.20bn was shared among the oil-producing states as 13% derivation fund.

The amount was a drop from the N660 billion shared in February 2019.

N581.57 billion was disbursed in March compared to N619.86bn in 2019. The Federal Government received a total of N236.12bn from the N581.57bn. States received a total of N159.01bn and Local governments received N119.31bn. The sum of N45.31bn was shared among the oil-producing states as 13% derivation fund.

FAAC disbursed the sum of N780.93bn in April this was significant considering N617. 57bn was only shared in 2019.

From the amount, the Federal Government received a total of N264.33bn, States received N181.49bn and Local Governments received N135.95bn. The sum of N54.29bn was shared among the oil-producing states as 13% derivation fund.

In May, N606.20 billion was distributed, N13 billion less to the N616 billion shared in May 2019. The Federal Government received a total of N255.07bn from the N606.20bn. States received a total of N166.63bn and Local Governments received N125.35bn. The sum of N37.39bn was shared among the oil-producing states as 13% derivation fund.

After consistent growth, FAAC allocation dipped in June to N547 billion as Federal Government received a total of N219.80bn from the N547.31bn. States received a total of N152.47bn and Local Governments received N114.09bn. The sum of N37.02bn was shared among the oil-producing states as 13% derivation fund. As at June 2019, N679 billion was shared.

The sum of N696.18billion was distributed in July and unexpected rise from June number. However, this is also lower to N762 billion in 2019. The payout in July 2020 the Federal Government received a total of N266.13bn, States received a total of N185.77bn and Local governments received N138.97bn. The sum of N28.50bn was shared among the oil-producing states as 13% derivation fund.

Read also: FAAC disbursed N2.05tr to FG, states, LGAs in Q3 2020 – NEITI

Federal Government received a total of N273.19bn from the N676.41 billion shared in August, States received a total of N190.85bn and Local governments received N142.76bn. The sum of N42.85bn was shared among the oil-producing states as 13% derivation fund.

In September, it came to N682.06 billion lower than N740 billion in 2019. From the N682 billion, the Federal Government received a total of N272.90bn from the N682.06bn. States received a total of N197.65bn and Local governments received N147.42bn. The sum of N30.88bn was shared among the oil-producing states as 13% derivation fund.

A total of N639.90billion revenue was recorded in October also lower than N693 billion in 2019. Federal Government received a total of N255.75bn from the N639.90bn. States received a total of N185.65bn and Local governments received N138.44bn. The Oil Producing States received N36.19 billion as 13 percent derivation revenue.

The breakdown of the distribution in the month of November’s revenue of N604billion indicated another decline and also fell short of N702bn shared in 2019. Federal Government received a total of N231.29bn from the N604bn. States received a total of N167.17bn and Local Governments received N124.71bn. The sum of N31.90bn was shared among the oil-producing states as 13% derivation fund.

The year closed with the distribution of N601 billion, a decline from N636bn in 2019. Federal Government received a total of N215.60bn from the N601bn. States received a total of N171.17bn and Local governments received N126.79bn. The sum of N31.39bn was shared among the oil-producing states as 13% derivation fund.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now