The 36 State Governments in Nigeria have received a total of N2.958 trillion between January and June of 2024.
According to the data from the Nigerian Bureau of Statistics, the total amount disbursed in the first half of 2024 to the 36 States in Nigeria by the Federal Account Allocation Committee (FAAC) stands at N2,598,478,283,936.97. This consisting of statutory allocations, exchange gain allocation, Electronic Money Transfer Levy (EMTL), ecological funds and VAT allocation.
VAT contributed the highest of N1.31 trillion to the total disbursement followed by exchange gain with N760.87 billion. Statutory allocation and EMTL for the six months stood at N381.157 billion and 189.506 billion respectively while the sum of N19.846 billion came from ecological fund.
The sum of 412.093 billion was shared in the month of January to States consisting of 85.16 billion statutory allocation, 92.95 billion exchange gain, 8.93 EMTL, 3.41 billion ecological fund and 221.64 billion VAT allocation.
In February, allocation to States dropped slightly to 406.96 billion reflecting a combined significant reduction in VAT and a slight reduction in EMTL which cancelled the increase in other allocations. Statutory allocation for the month of February was N109.664 billion while exchange gain allocation stood at N97.324 billion. EMTL, ecological funds and VAT allocation were N7.96 billion, N3.78 billion and N188.226 billion respectively.
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States got a total of N454.699 billion in the month of March representing a 10.49% increase from February disbursement 406.96 billion aided by the significant increases in exchange gain and VAT. The disbursement in March consists of statutory allocations of 20.979 billion, exchange gain allocation of N216.285 billion, EMTL of 7.578 billion, ecological allocation of 3.122 billion and VAT allocation of 206.735 billion.
A reduction occurred in April to the sum of N428.436 billion. States got N71.480 billion Statutory allocation, N98.790 billion exchange gain allocation and N7.377 billion EMTL. N2.517 billion Ecological fund and 248.271 VAT was disbursed in the month.
The highest disbursement was recorded in May to the tune of N463.042 billion. Increment occurred across segments except in exchange gain. statutory allocations was 75.384 billion, exchange gain allocation was N75.383 billion, EMTL was N150.089 billion (the highest percentage increase for the month), ecological allocation was N2.997 billion while VAT allocation was N225.561 billion.
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In June, States got a total allocation of N433.252 billion consisting of N18.489 billion statutory allocations, N180.136 billion exchange gain allocation, N7.573 billion EMTL, N4.019 billion ecology allocation and N224.045 billion VAT allocation.
