Lagos State · Federal allocation
Lagos State FAAC Allocation 2024
What landed each month, where it came from, and what came off first.
Lagos State received ₦140,068,951,205 (about ₦140.1B) in FAAC federal allocations across 4 recorded months of 2024. That is about ₦35.02B a month.
Net allocation received · 4 months of 2024
4 months on record₦140,068,951,205
Highest · December
₦38.33BLowest · September
₦31.57BWhere the money came from
Share of gross allocation
The state’s share of the 7.5% tax paid on goods and services.
Extra naira earned when dollar revenue is converted at a higher rate than planned.
The state’s share of the Federation Account: oil and gas income, company taxes and customs duties.
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. 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
- ₦198,479,446,776
- VAT deduction
- − ₦30,671,413,786
- An amount taken from the state’s VAT share before payment.
- External debt repayment
- − ₦27,727,067,862
- Repayments on the state’s foreign loans, taken before the money is paid out.
- Other deductions
- − ₦12,013,922
- Amounts the report shows as taken off, without saying what for.
- Net received
- ₦140,068,951,205
About ₦29.43 of every ₦100 was taken off before Lagos was paid.
Local governments got their own
Lagos’s 20 local governments were allocated ₦132.62B 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₦38.28BNo earlier month to compare
What came in
- Value added tax (VAT)86.7%
- ₦45,847,572,198
- Exchange rate gain9.1%
- ₦4,814,153,087
- Statutory allocation1.9%
- ₦1,020,775,500
- Electronic transfer levy1.7%
- ₦894,673,728
- Ecological fund0.3%
- ₦164,602,597
- Solid minerals revenue0.3%
- ₦142,012,099
- Gross allocation
- ₦52,883,789,209
What came off first
- VAT deduction
- − ₦7,667,853,447
- External debt repayment
- − ₦6,931,766,966
- Net received
- ₦38,284,168,797
Septemberfrom August revenue₦31.57B−17.5% on the month before
What came in
- Value added tax (VAT)87.1%
- ₦40,217,352,056
- Exchange rate gain8.3%
- ₦3,852,645,086
- Statutory allocation2.7%
- ₦1,248,815,290
- Electronic transfer levy1.5%
- ₦712,072,537
- Ecological fund0.3%
- ₦141,271,210
- Gross allocation
- ₦46,172,156,179
What came off first
- VAT deduction
- − ₦7,667,853,447
- External debt repayment
- − ₦6,931,766,966
- Net received
- ₦31,572,535,767
Novemberfrom October revenue₦31.89BNo earlier month to compare
The imported figures for November do not add up to its total of ₦31,886,850,398, so only the total is shown. It needs checking against the official report.
What came off first
- Gross allocation
- ₦46,498,484,732
- VAT deduction
- − ₦7,667,853,447
- External debt repayment
- − ₦6,931,766,966
- Other deductions
- − ₦12,013,922
- Net received
- ₦31,886,850,398
Decemberfrom November revenue₦38.33B+20.2% on the month before
What came in
- Value added tax (VAT)82.1%
- ₦43,431,371,308
- Exchange rate gain10.4%
- ₦5,510,593,024
- Statutory allocation5.8%
- ₦3,063,275,784
- Electronic transfer levy1.3%
- ₦682,346,326
- Ecological fund0.4%
- ₦237,430,213
- Gross allocation
- ₦52,925,016,655
What came off first
- VAT deduction
- − ₦7,667,853,447
- External debt repayment
- − ₦6,931,766,966
- Net received
- ₦38,325,396,243
Check the source
About these figures
Source: monthly FAAC disbursement reports (net allocations to Lagos 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.