Nigeria’s 36 States Generated 5.3 Trillion Naira Revenue And Got 10.19 Trillion FAAC Allocation In 5 Years

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The 36 states in Nigeria earned N5.30tn as internally generated revenue from 2016 to 2020. The states got N10.19tn from the Federation Accounts Allocation Committee within the time under review and borrowed N1.84tn from domestic sources.

These figures were arrived at through analyses of IGR and FAAC data from the National Bureau of Statistics and domestic loans data from the Debt Management Office.

This means that much of the revenues accruing to the states within the time under review came from the Federation Account Allocation Committee allocations.

The states got N1.33tn as FAAC allocation in 2016. In 2017, the figure increased to N1.74tn; in 2018, it ballooned to N2.49tn, and fell to N2.40tn in 2019. By 2020, the figure slipped to N2.23tn.

On the other hand, the states’ IGR was N817.19bn in 2016. It grew to N936.47bn in 2017, and increased further to N1.10tn in 2018. In 2019, it increased slightly to N1.23tn, and fell marginally to N1.21tn in 2020.

According to available data, only Lagos and Ogun state generate higher IGRs than their FAAC allocations. Lagos generated N1.84tn as IGR, and got N523.63bn from FAAC within the five-year period. Ogun State, on the other hand, got N162.47bn as FAAC allocation and generated N354.04bn from IGR.

States like Delta, Yobe, Gombe, Ebonyi, Borno, Katsina, and Kebbi depend largely on FAAC allocations based on available data.

In the period under review, Delta State got the most allocation from FAAC (N804.27bn), and Osun State got the least (N95.05bn). Lagos’s IGR was the highest (N1.84tn), while Yobe’s IGR was the lowest (N27.45bn).

According to data from the DMO, Lagos’s domestic debt grew the highest N290.24bn within the period under review, while Delta’s debt reduced the lowest by N72.16bn.

From 2016 to 2020, Abia got N225.47bn from the federation account, raised N71.59bn as IGR, and borrowed N55.61bn domestically.

Adamawa got N213.09bn from FAAC, raised N36.23bn as IGR, and borrowed N51.69bn domestically.

Akwa Ibom got N769.19bn from FAAC, raised N99.81bn as IGR, and borrowed N83.23bn domestically. Anambra got N234.22bn from FAAC, raised N106.29bn as IGR, and borrowed N56.40bn domestically. Bauchi got N227.82bn from FAAC, raised N46.94bn as IGR, and increased its domestic debt by N45.17bn.

Bayelsa got N575.39bn from FAAC, generated N62.59bn internally, and borrowed N40.75bn domestically. Benue got N227.16bn from FAAC, raised N61.49bn internally, and borrowed N86.18bn domestically.

FAAC allocation to Borno was N268.67bn; IGR was N33.94bn, and domestic debt increased by N66.71bn. Cross River got N147.86bn from FAAC, raised N89.21bn internally, and borrowed N47.64bn.

Delta State got N804.27bn from FAAC, generated N278.79bn internally, and reduced its domestic debt with N72.16bn.

Ebonyi got N197.61bn, raised N34.64bn from IGR, and borrowed N10.05bn. Edo got N255.32bn from FAAC, raised N133.47bn internally, and borrowed N34.49bn.

Ekiti got N165.28bn from FAAC, raised N31.69bn internally, and borrowed N32.16bn.

Enugu got N223.89bn from FAAC, raised N113.14bn internally, and borrowed N30.54bn. Gombe got N179.14bn from FAAC, raised N30.89 as IGR, and borrowed N31.52bn.

Imo got N234.37bn from FAAC, raised N60.78bn as IGR, and borrowed N78.45bn.

Jigawa borrowed N8.78bn, raised N41.03bn, and got N257.14bn from FAAC. Kaduna borrowed N18.91bn, got N290.00bn, and raised N168.75bn.

– Punch

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