Economy
South-West LGAs Share N659.51bn in One Year, Lagos Tops Allocation
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South-Western LGAs Share N659.51bn in One Year, Lagos Tops Allocation
By Aremu Adebayo
In a significant financial update, data from StatisSense has revealed that the 137 local government areas across the six South-Western states of Nigeria collectively received a substantial sum of N659.51 billion from the Federation Account Allocation Committee (FAAC) over the past year.
According to the data, the period under review spans from June 2023 to May 2024.
Breaking down the allocations, Lagos State’s 20 local government areas received the largest portion, securing a total of N258.26 billion out of the N659.51 billion distributed.
Following Lagos, Oyo State’s 33 local government areas received N127.75 billion, reflecting the state’s significant administrative expenses and population density.
Osun State’s 30 council areas were allocated N87.90 billion, making it the third-highest recipient in the South-West allocation chart.
Ogun State’s 20 local government areas collectively received N69.89 billion within the same period, showcasing a balanced distribution compared to its neighbouring states.
Ondo State, with its 18 local government areas, was allocated N64.06 billion, while Ekiti State, with 16 local government areas, received N54.66 billion.
The detailed data highlights the FAAC allocations shared among the South-Western states:
Ekiti: 16 LGAs shared — ₦54.66Bn
Lagos: 20 LGAs shared — ₦258.26Bn
Ogun: 20 LGAs shared — ₦69.89Bn
Ondo: 18 LGAs shared — ₦64.06Bn
Osun: 30 LGAs shared — ₦87.90Bn
Oyo: 33 LGAs shared — ₦127.75Bn
These figures illuminate the financial landscape and the distribution of federal funds across the South-Western region, reflecting varying economic needs and administrative capacities of each state.
The data-driven insights from StatisSense provide a transparent look into the allocation and utilisation of federal resources.
