Akwa Ibom State · Federal allocation
Akwa Ibom State FAAC Allocation 2024
What landed each month, where it came from, and what came off first.
Akwa Ibom State received ₦146,299,053,622 (about ₦146.3B) in FAAC federal allocations across 4 recorded months of 2024. That is about ₦36.57B a month.
Net allocation received · 4 months of 2024
4 months on record₦146,299,053,622
Highest · December
₦51.00BLowest · September
₦27.73BWhere the money came from
Share of gross allocation
The state’s share of the Federation Account: oil and gas income, company taxes and customs duties.
Extra naira earned when dollar revenue is converted at a higher rate than planned.
The state’s share of the 7.5% tax paid on goods and services.
The ₦50 charged on bank transfers of ₦10,000 or more.
Money set aside for erosion, flooding and other environmental problems.
Income from mining, shared in the months it is distributed.
Before deductions. Percentages may not sum to 100% due to rounding. The statutory allocation includes ₦44.31B in 13% derivation, paid to states that produce oil. Covers 3 of the 4 months on record. November is left out: the imported figures for that month do not add up to its total.
Before the money arrived
- Gross allocation
- ₦153,412,089,967
- Other deductions
- − ₦4,747,972,751
- Amounts the report shows as taken off, without saying what for.
- External debt repayment
- − ₦2,100,105,779
- Repayments on the state’s foreign loans, taken before the money is paid out.
- Ecology transfer
- − ₦264,957,815
- Part of the ecological fund passed on to NDDC or HYPPADEC.
- Net received
- ₦146,299,053,622
About ₦4.64 of every ₦100 was taken off before Akwa Ibom was paid.
Local governments got their own
Akwa Ibom’s 31 local governments were allocated ₦44.92B in 2024, across 4 months on record.
That money is separate. It is not part of the state’s figure on this page.
See each local government’s shareMonth by month
4 months on recordOpen a month to see what came in and what was deducted. The percentage is the change on the month before.
Augustfrom July revenue₦32.64BNo earlier month to compare
What came in
- Exchange rate gain46.0%
- ₦15,959,375,798
- Statutory allocation32.2%
- ₦11,155,192,724
- Value added tax (VAT)20.5%
- ₦7,096,942,774
- Electronic transfer levy0.7%
- ₦234,853,384
- Ecological fund0.4%
- ₦123,536,535
- Solid minerals revenue0.3%
- ₦91,082,660
- Gross allocation
- ₦34,660,983,877
The statutory allocation includes ₦10,389,086,532 in 13% derivation.
What came off first
- Other deductions
- − ₦1,434,820,382
- External debt repayment
- − ₦525,026,445
- Ecology transfer
- − ₦61,768,268
- Net received
- ₦32,639,368,782
Septemberfrom August revenue₦27.73B−15.0% on the month before
What came in
- Exchange rate gain41.7%
- ₦12,418,420,516
- Statutory allocation35.3%
- ₦10,496,254,147
- Value added tax (VAT)22.0%
- ₦6,536,504,826
- Electronic transfer levy0.6%
- ₦187,851,335
- Ecological fund0.4%
- ₦106,026,006
- Gross allocation
- ₦29,745,056,830
The statutory allocation includes ₦9,559,000,925 in 13% derivation.
What came off first
- Other deductions
- − ₦1,434,780,050
- External debt repayment
- − ₦525,026,445
- Ecology transfer
- − ₦53,013,003
- Net received
- ₦27,732,237,333
Novemberfrom October revenue₦34.93BNo earlier month to compare
The imported figures for November do not add up to its total of ₦34,927,475,390, so only the total is shown. It needs checking against the official report.
What came off first
- Gross allocation
- ₦36,457,296,133
- Other deductions
- − ₦943,715,091
- External debt repayment
- − ₦525,026,445
- Ecology transfer
- − ₦61,079,208
- Net received
- ₦34,927,475,390
Decemberfrom November revenue₦51.00B+46.0% on the month before
What came in
- Statutory allocation50.7%
- ₦26,659,553,436
- Exchange rate gain35.4%
- ₦18,604,185,165
- Value added tax (VAT)13.2%
- ₦6,918,510,443
- Electronic transfer levy0.4%
- ₦188,309,409
- Ecological fund0.3%
- ₦178,194,673
- Gross allocation
- ₦52,548,753,126
The statutory allocation includes ₦24,360,522,408 in 13% derivation.
What came off first
- Other deductions
- − ₦934,657,228
- External debt repayment
- − ₦525,026,445
- Ecology transfer
- − ₦89,097,337
- Net received
- ₦50,999,972,117
Check the source
About these figures
Source: monthly FAAC disbursement reports (net allocations to Akwa Ibom State), as published in the National Bureau of Statistics’ disbursement tables. Net means what is left after deductions at source.
Each month is named for when the money was shared, which is the month after the revenue was earned. Only months in our records are listed. A missing month does not mean nothing was paid.
Local governments’ allocations are separate and are not in the state’s total. An allocation is income: it does not show how the money was spent.