A recent report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the 36 states, Federal Capital Territory (FCT), and 774 local government councils in Nigeria collectively received N8.79 trillion in 2020 and 2021 through Federation Account allocations.
The Fiscal Allocation and Disbursements Audit (FASD) report disclosed that the South-South region received the highest allocation of N2.59 trillion, led by nine oil-producing states benefiting from the 13% derivation revenue. Delta State secured the highest allocation, followed by Lagos in the South-West.
The report also detailed allocations for other regions, highlighting the complexities of revenue distribution. NEITI's findings shed light on the disparities and dynamics of financial allocations across the nation.
