Nigeria: Federation Account Allocation and Internally Generated Revenue by North-Central States in 2020

Apart from Lagos, the FCT's share of the Federation Account Allocation was also significantly lower than its contribution to the Federation Accounts.

Source:

Economic Confidential

<div style="text-align: center;"><a href="https://intelpoint.co/insights/nigeria-federation-account-allocation-and-internally-generated-revenue-by-north-central-states-in-2020/" title="Nigeria: Federation Account Allocation and Internally Generated Revenue by North-Central States in 2020"><img src="https://intelpoint.co/wp-content/uploads/2024/02/Nigeria-Federation-Account-Allocation-and-Internally-Generated-Revenue-by-North-Central-states-in-2020.webp" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: Nigeria: Federation Account Allocation and Internally Generated Revenue by North-Central States in 2020"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=Nigeria%3A+Federation+Account+Allocation+and+Internally+Generated+Revenue+by+North-Central+States+in+2020" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

2020

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

From 2011 to 2022, the highest total revenue recorded by the Nigerian government was in 2011, reaching 17.73%

Key Takeaways:

Nigeria's total revenue decreased from 17.73% of GDP in 2011 to 9.09% in 2022.
The lowest point for the country’s revenue occurred in 2016, at only 5.12% of GDP.
Although there has been some recovery since 2016, revenue still falls well below the levels seen before 2015.
The sharpest decline took place between 2011 and 2016, with revenue dropping by over 12 percentage points.
In 2020, during the COVID-19 pandemic, there was a significant drop to 6.52%, followed by a period of recovery.

Libya recorded the highest revenue-to-GDP ratio among African countries in 2022 with 85.78%

Key takeaways:

Libya's total revenue (85.78% of GDP) significantly surpassed all other African states.
Lesotho is noteworthy with the second-highest total revenue ratio at 48.12%.
Equatorial Guinea and Sao Tomé & Príncipe in Western Africa recorded total revenue of 30.79% and 25.38% respectively.
South Africa generated 27.74% of its GDP in revenue.
The top ten countries reported total revenue exceeding 28%.

Ebonyi & Lagos: Nigeria’s leaders in revenue growth and collection in 2023

Lagos led Nigerian states with ₦815.9 billion in Internally Generated Revenue for 2023, followed by the FCT with ₦211.1 billion. Despite only a 25% growth, Lagos’ IGR confirms its economic dominance. The FCT, meanwhile, recorded an impressive 70% increase. Ebonyi, though with lower revenue, achieved an astonishing 148% growth. Taraba generated the least revenue, increasing by 6%.

Nigeria's Federation Account Allocation and Internally Generated Revenue by Geopolitical Zone in 2020

Nigeria's Federation Account Allocation Committee (FAAC) shared a total of ₦4.19 trillion among 36 states and the FCT in 2020. Lagos State made ₦419 billion in internally generated revenues (IGR) — 32% of the IGR by all states combined.

Nigeria: Federation Account Allocation and Internally Generated Revenue by South-Western States in 2020

Lagos contributed the most IGR among all states in the country but got an allocation 28.5% less than its IGR. Here is a breakdown of the Federation Account Allocation and Internally Generated Revenue by South-Western states in 2020.

Nigeria: Federation Account Allocation and Internally Generated Revenue by South-Southern States in 2020

Rivers State generated the highest revenue among the South-Southern states in 2020, making it the second top contributor among all states. Delta State received the highest allocation from the FAAC in the region.