Saturday, 11 September 2021

Details Of How Revenue (FG , VAT ) Are Shared


 HOW FGN REVENUE IS SHARED


Gets 52.68% from Federation Account [FA] & 15% from VAT Pool


From FA:

FG Budget: 48.5%

Special Funds: 4.18%


From VAT Pool:

FG Budget: 14%

FCT: 1%


From Special Funds:

FCT: 1%

Ecological: 1%

Stabilization: 0.5%

Nat Resources: 1.68%

---


HOW VAT IS SHARED


96% goes to the VAT Pool

4% goes to FIRS


From the 96% in the VAT Pool:

35% goes to Local Govts

50% goes to State Govts

15% goes to Federal Govt


From the 15% of the Federal Govt:

14% goes to Federal Budget

1% goes to the FCT

---


HOW FAAC IS SHARED TO STATES & LGAs


1 Equality: 40%


2 Population: 30%


3 IGR Effort: 10%


4 Landmass/Terrain: 10%


5 Social Development Factors: 10%


The Social development Factor are:

a. Education: 4%

b. Health: 3%

c. Water: 3%

---


HOW FAAC IS SHARED MONTHLY AMONG GOVERNMENTS


Federal Govt: 52.68%


36 State Govts: 26.72%


774 LGAs: 20.60%

---


STATES THAT SHARE 13% DERIVATION FUND MONTHLY


1 Abia

2 Akwa Ibom

3 Bayelsa

4 Delta

5 Edo

6 Imo

7 Ondo

8 Rivers

---


HOW 8 STATES SHARE THE 13% DERIVATION FUND MONTHLY


1 Abia: 1.1%—1.3%


2 Akwa Ibom: 21%—23%


3 Bayelsa: 17%—20%


4 Delta: 28%—33%


5 Edo: 2.8%—3.5%


6 Imo: 2.0%—2.3%


7 Ondo: 2.1%—2.8%


8 Rivers: 17%—20%

---


In 2020, N520.35 billion was shared as 13% Derivation Fund


Top 4 States

1 Delta: N130.57 billion


2 Akwa Ibom: N94 billion


3 Bayelsa: N80.95 billion


4 Rivers: N78.38 billion

---


STATE'S SHARE OF 2020 FAAC [GROSS]


1 Delta: 7.55%

2 Lagos: 6.87%

3 A/Ibom: 6%

4 Rivers: 5.62%

5 Bayelsa: 5.05%

6 Kano: 3.25%

7 Kaduna: 2.63%

8 FCT: 2.5%

9 Oyo: 2.47%

10 Katsina: 2.45%

11 Imo: 2.45%

12 Edo: 2.4%

....

35 Nasarawa: 1.79%

36 Ekiti: 1.78%

37 Kwara: 1.77%

---


2020 FAAC DEDUCTIONS FROM STATES & THEIR LGAs


1 Lagos: N67.48b

2 C/river: N19.95b

3 Osun: N19.89b

4 Plateau: N19.17b

5 Bayelsa: N18.34b

6 Ondo: N17.76b

7 Delta: N14.79b

8 Ogun: N14.76b

9 A/Ibom: N14.27b

10 Bauchi: N13.58b

...

36 Yobe: N2.13b

37 FCT: N714.22m

---


2020 FAAC SHARED TO STATES & LGAs


36 STATES + FCT

Gross Allocation: N2.66 trillion

Net Allocation: N2.29 trillion

Deduction: N369.92 billion


774 LGAs

Gross Allocation: N1.59 trillion

Net Allocation: N1.57 trillion

Deduction: N24.79 billion

---


2020 STATE'S DEBT TO REVENUE


1 Cross river: 287%

2 Gombe: 222%

3 Osun: 182%

4 Kaduna: 170%

5 Plateau: 169%

6 Ekiti: 165%

7 Lagos: 160%

8 Imo: 158%

9 Edo: 158%

10 Ogun: 155%

..

35 Katsina: 51%

36 FCT: 43%

37 Jigawa: 38%


PS:

Revenue = FAAC (SG & LGAs) + IGR

---


MOST FAAC DEPENDENT STATES - FAAC as % Share of Revenue, 2020


1 Jigawa: 92%

2 Bayelsa: 92%

3 Katsina: 92%

4 Yobe: 91%

5 Adamawa: 91%

6 Niger: 91%

7 Borno: 91%

8 Taraba: 90%

9 Benue: 90%

10 Sokoto: 89%


36 FCT: 51%

37 Lagos: 36%


PS:

Revenue = FAAC (SG+LGAs) + IGR

---


MOST FAAC DEPENDENT ZONE - FAAC as % Share of Revenue, 2020


1 North East: 90.0%

2 North West: 84.1%

3 South East: 81.4%

4 South South: 77.6%

5 North Central: 76.6%

6 South West: 53.4%


Northern Nigeria: 83%

Southern Nigeria: 68.2%


PS:

Revenue = FAAC (SG+LGAs) + IGR

---


HOW MUCH OF 2020 STATE'S IGR IS FROM PAY AS YOU EARN (PAYE)?


1 Bauchi: 93.4%

2 Katsina: 91.3%

3 FCT: 90.9%

4 Bayelsa: 89.9%

5 Rivers: 82.9%

6 Plateau: 81.1%

7 Delta: 77.2%

8 Borno: 76.6%

9 Nasarawa: 76.3%

10 Akwa Ibom: 76.1%

...

36 Kaduna: 32.7%

37 Kebbi: 32.2%

---


2020 MOST INDEBTED ZONE - 2020 DEBT PER CAPITA


1 South South: ₦46,153


2 South West: ₦43,402


3 North East: ₦26,012


4 South East: ₦25,723


5 North Central: ₦22,425


6 North West: ₦14,989


Northern Nigeria: ₦19,858

Southern Nigeria: ₦39,952


© Source NBS


Share This

0 comments: