The Federation Account allocations for 2020 and 2021 were N8.79 trillion, with the 36 states, the Federal Capital Territory, and the 774 local governments in the country receiving the largest share—the South-South.
The Nigeria Extractive Industries Transparency Initiative, or NEITI, recently released a report that included this information.
According to the study, revenue is derived via value-added tax, statutory allocations of gross income, and a 13 percent derivation for states that produce minerals.
Regarding geopolitical zone allocations, the South-South was given the largest share, with N2.59 trillion, or 29.53 percent, going to the federating units, according to NEITI.
The enormous amount was the consequence of nine oil-producing states receiving the entire 13% of derivation earnings. Out of these, five are from the geopolitical South-South zone.
Regarding the remaining zones, during the review period, North-West received N1.56 trillion or 7.85%; South-West received N1.28 trillion or 14.57 percent; North-Central received N1.26 trillion or 14.39 percent; and North-East received N12.71 percent.
With an allocation of N963 billion, or 10.96 percent of the total, South-East received the least amount of funding.
The South-South Zone’s largest allocation went to Delta State ($372.07 billion), followed by Rivers ($298.68 billion) and Akwa Ibom ($281.78 billion).
During the reviewed years, Cross River received the lowest allocation in the zone, N66.83 billion.
With N163.41 billion, Kano State was given the largest share in the North-West Zone. With N130.02 billion and N123.09 billion, respectively, Kaduna and Katsina came next. N84.81 billion was given to Zamfara State.
With N243.58 billion for the reviewed period, Lagos State obtained the most allocation in the South-West zone. Next with N117.93 billion was Oyo. Osun received N64.19 billion, but Ondo earned N95.98 billion.
With N112.77 billion, the FCT in the North Central Zone was given the largest allocation. With N122.49 billion, Borno State was given the largest share in the North East Zone.
Imo State was allotted the most amount in the South East zone during the reviewed period, N113.45 billion.
