By Abiodun JIMOH
A total of N1.48 trillion was distributed to Nigeria’s 36 states and the Federal Capital Territory (FCT) by the Federal Account Allocation Committee (FAAC) in the third quarter of 2024. The funds, sourced from federally collected revenue, are a vital component of state budgets, with significant variations in amounts received by different states.
Delta State received the highest allocation of N128.3 billion, followed by Rivers with N107.8 billion and Lagos with N106.2 billion. Akwa Ibom and Bayelsa completed the top five, receiving N88.3 billion and N76.2 billion, respectively. These oil-producing states benefited heavily from derivation funds, which account for their prominence in the allocation list.
In contrast, 15 states received allocations between N30 billion and N50 billion, while 17 states received less than N29 billion. The distribution reflects a mix of derivation, population, landmass, and other statutory revenue-sharing formulas.
These allocations play a critical role in funding state-level projects, including infrastructure, healthcare, and education. However, concerns about accountability and efficient utilization persist, as many citizens question whether the funds translate into tangible development.
With rising economic challenges, the focus remains on ensuring states leverage their FAAC receipts to drive sustainable growth and improve living standards. For residents, the question is: how well is your state managing its share of the N1.48 trillion
