In the first four months of this year (January to April), the Federal Government (FG), 36 States, and 774 Local Governments (LG) in Nigeria split N2.84 trillion as statutory allocation from the Federation Account Allocation Committee, FAAC.
When compared to the N2.63 trillion shared over the same month in 2022 (4m’22), this is an increase of 7.98 percent year over year (YoY). However, throughout the course of the four months, there was a monthly decline.
Allocations decreased by 1.1 percent to N714.6 billion in March after falling by 3.67 percent to N722.6 billion in February.
In keeping with the declining trend, allocations decreased by 8.2 percent in April to N655.9 billion.
FG received N1.07 trillion during the period, an increase YoY of 5.9 percent from N1.01 trillion collected during the same time in 2022.