Again, Lagos Leads FAAC Allocations in First Eight Months of 2023
By Zekeri Idakwo
Lagos State has once again received the highest amount of revenue from the Federation Account Allocation Committee (FAAC) in the first eight months of 2023, according to the data obtained from the Office of the Accountant-General of the Federation (OAGF).
The data shows that 25 local government areas (LGAs) with the highest FAAC allocation from January to August 2023 received a total of ₦143.97 billion. Out of these, 20 LGAs are from Lagos State, while the remaining five are from the Federal Capital Territory (FCT).
The data reveals that Alimosho LGA in Lagos State received the highest FAAC allocation of ₦8.88 billion in the first eight months of 2023, followed by Abuja Municipal Area Council in the FCT with ₦6.94 billion.
The third highest allocation went to Ajeromi/Ifelodun LGA in Lagos State with ₦6.73 billion.
The other LGAs in Lagos State that received high FAAC allocations are Kosofe (₦6.62bn), Mushin (₦6.52bn), Oshodi/Isolo (₦6.48bn), Ojo (₦6.41bn), Ikorodu (₦6.27bn), Surulere (₦6.08bn), Agege (₦5.93bn), Ifako/Ijaye (₦5.82bn), Somolu (₦5.72bn), Ikeja ( ₦5.44bn), Eti-Osa (₦5.42bn), Amuwo-Odofin (₦5.42bn), Lagos Mainland (₦5.40bn), Badagry (₦5.22bn), Apapa (₦5.06bn), Epe (₦5.03bn), Ibeju Lekki (₦4.72bn) and Lagos Island (₦5.02bn).
The total FAAC allocation to Lagos State in the first eight months of 2023 was ₦118.19 billion.
The other LGAs (Area Councils) in the FCT that received high FAAC allocations are Bwari, (N5.01bn), Gwagwalada, (N4.71bn), Kwali (N4.57bn) and Kuje (N4.55bn)
The total FAAC allocation to the FCT in the first eight months of 2023 was ₦25.78 billion.
The data also shows that the FAAC allocation to the 25 LGAs increased by 18.7% from ₦128.66 billion in the first eight months of 2022 to ₦152.64 billion in the first eight months of 2023.
This reflects the improvement in the revenue accruing to the federation account, which was affected by the COVID-19 pandemic and the global oil price slump in 2020 and 2021.
