States’ foreign loans deduction from Federal Account Allocation Committee for the month of February 2024, Lagos has the highest foreign loan deduction of N9.6 billion, followed by Kaduna with N7.1 billion.
Recall that FAAC shared a total sum of N1,152.756 trillion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils.
According to a communiqué issued by FAAC, the N 1,152.756 billion total distributable revenue comprised distributable statutory revenue of N101.349 billion, distributable Value Added Tax (VAT) revenue of N428.806 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.157 billion and Exchange Difference revenue of N607.444 billion.
Total revenue of N2,326.149 billion was available in the month of February 2024. Total deduction for cost of collection was N66.456 billion; total transfers, interventions and refunds was N856.937 billion and savings was N250.000 billion.
Gross statutory revenue of N1,192.428 billion was received for the month of February 2024. This was higher than the sum of N1,151.808 billion received in the month of January 2024 by N 40.620 billion.
States Breakdown:
ABIA: 493,275,825.97
ADAMAWA: 910,200,423.89
AKWA IBOM: 465,795,884.77
ANAMBRA: 559,409.629.39
BAUCHI: 1.584,717.062.82
BAYELSA: 361,282,353.91
BENUE: 232,293,729.06
BORNO: 172,047,423.95
CROSS RIVER: 2,045,569,597.12
DELTA: 297,719,985.70
EBONYI: 637,285,759.35
EDO: 1.547.741,480.78
EKITI: 801,738,563.16
ENUGU: 754,891,993.69
GOMBE: 411,040,331.10
IMO: 550,321,485.36
JIGAWA: 269,485,314.51
KADUNA: 7,069,876,645.08
KATSINA: 751,269,539.65
KEBBI: 392,354,070.21
KOGI: 472,443,329.38
KWARA: 385.101,391.77
LAGOS: 9,669,148,364.60
NASSARAWA: 380,561,864.68
NIGER: 603.169,661.37
OGUN: 1,326,086,570.76
ONDO: 596,247,631.44
OSUN: 1,032,967,681.28
OY0: 1,944,255,706.82
PLATEAU: 237.695,381.59
RIVERS: 1.423,849 631.58
SOKOTO: 292,116,230.51
TARABA: 411,610,971.66
YOBE: 249,784,010.27
ZAMFARA: 270,134,672.15
