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OIL PRODUCING STATES
The nine oil-producing states in Nigeria saw their domestic debt stock drop from a record high of N1.66 trillion recorded as of June 2023 to N1.58 trillion by the end of September 2023.
The eight oil-producing states in Nigeria received a sum of N377.93 billion as 13% oil derivation fund in the first half of 2022.
Oil-producing states in Nigeria received a sum of N448.67 billion as part of their 13% oil derivatives for the year 2021.
A sum of N424.02 billion was shared among eight oil-producing states in Nigeria in the year 2020 as part of 13% oil derivatives
The sum of N604 billion was disbursed by the FAAC to the three tiers of government in November 2020.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N780.93bn to the three tiers of government in April 2020 from the revenue generated in March 2020. The disbursement increased by 34.28% and 20.63% compared to N581.57 billion and N647.35 billion that were allocated in March and February 2020 respectively.
The first half of the year is gone and states, most of whom depend on statutory allocation from...