In the first half of 2025, Nigeria’s 36 states received a combined ₦3.61 trillion in net allocations from the Federation Accounts Allocation Committee (FAAC). The figure reflects funds shared after statutory deductions, excluding transfers to local governments and other external disbursements.
Top beneficiaries
- Delta State received the highest allocation at ₦299.96 billion, representing 8.31% of the total.
- Rivers State followed with ₦264.90 billion (7.34%).
- Lagos State came third with ₦236.92 billion (6.56%).
These three states alone accounted for over 22% of all net FAAC disbursements in the period, underscoring the fiscal advantage of oil-producing states and Nigeria’s commercial hub.
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Other high earners
- Akwa Ibom: ₦230.99 billion (6.40%)
- Bayelsa: ₦229.56 billion (6.36%)
- Kano: ₦120.04 billion (3.32%)
- Oyo: ₦95.28 billion (2.64%)
- Anambra: ₦89.83 billion (2.49%)
- Katsina: ₦88.14 billion (2.44%)
- Ondo: ₦88.11 billion (2.44%)
Revenue drivers
The allocations were drawn from a mix of oil and non-oil revenue streams. Lagos, Rivers, and Kano emerged as the leading beneficiaries of Value Added Tax (VAT) inflows. Delta and Akwa Ibom also saw significant gains from exchange rate adjustments and the Electronic Money Transfer Levy (EMTL), boosting their overall earnings.
