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FEDERAL ALLOCATION
Rivers State, a major oil-producing region in Nigeria and often referred to as the "Treasure Base of the Nation," received 60.44% of its total revenue from the Federation Account Allocation Committee (FAAC) in 2023.
The sum of N604 billion was disbursed by the FAAC to the three tiers of government in November 2020.
Ten states in Nigeria have accumulated biggest debt profiles above N100 billion each. Collectively, these highly indebted states owe both external and domestic debt to the tune of N2.74 trillion.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N769.5 billion from the Federation Account to the three tiers of government in July 2019.