Disclosure News

Factual Reportage

 FG states LGs share N10trn in 2023 NEITI

The three tiers of government, Federal, state and local governments shared N10.143 trillion from the Federation Account as statutory revenue allocations in 2023, NEITI said.

The Federal Government received N3.99 trillion, representing 39.37 per cent of the total allocation.

The 36 states got N3.585 trillion representing 35.34 per cent while the 774 local government councils shared N2.56 trillion, equivalent to 25.28 per cent.

A further analysis of the N10.143 trillion disbursements in 2023 showed an increase of N1.934 trillion or 23.56 per cent when compared to the disbursement of N8.209 trillion shared in 2022.

NEITI attributed the increase to improved revenue remittances to the Federation Account due to the removal of petrol subsidy and the floating of the exchange rate by the new administration.

The federal, state and local governments cumulatively received N1.934 trillion more than the amount shared in 2022.

The Federal Government’s share increased by N574.21 billion (16.79 per cent) from the N3.42 trillion it received in 2022 to N3.99 trillion in 2023.

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