Ondo State · Federal allocation
Ondo State FAAC Allocation 2024
What landed each month, where it came from, and what came off first.
Ondo State received ₦53,103,836,907 (about ₦53.1B) in FAAC federal allocations across 4 recorded months of 2024. That is about ₦13.28B a month.
Net allocation received · 4 months of 2024
4 months on record₦53,103,836,907
Highest · December
₦15.53BLowest · September
₦11.58BWhere 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. The statutory allocation includes ₦5.81B 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
- ₦58,762,125,129
- External debt repayment
- − ₦2,606,467,582
- Repayments on the state’s foreign loans, taken before the money is paid out.
- Standing payment orders (ISPO)
- − ₦2,576,995,052
- Payments the state committed to in advance, such as contractor or bond repayments.
- Ecology transfer
- − ₦245,319,026
- Part of the ecological fund passed on to NDDC or HYPPADEC.
- Other deductions
- − ₦229,506,562
- Amounts the report shows as taken off, without saying what for.
- Net received
- ₦53,103,836,907
About ₦9.63 of every ₦100 was taken off before Ondo was paid.
Local governments got their own
Ondo’s 18 local governments were allocated ₦29.17B 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₦12.80BNo earlier month to compare
What came in
- Value added tax (VAT)45.0%
- ₦6,390,414,524
- Exchange rate gain36.2%
- ₦5,139,636,305
- Statutory allocation15.5%
- ₦2,198,459,711
- Electronic transfer levy1.7%
- ₦237,274,844
- Solid minerals revenue0.9%
- ₦129,194,458
- Ecological fund0.8%
- ₦114,379,954
- Gross allocation
- ₦14,209,359,796
The statutory allocation includes ₦1,489,137,643 in 13% derivation.
What came off first
- External debt repayment
- − ₦651,616,896
- Standing payment orders (ISPO)
- − ₦644,248,763
- Ecology transfer
- − ₦57,189,977
- Other deductions
- − ₦55,289,565
- Net received
- ₦12,801,014,595
Septemberfrom August revenue₦11.58B−9.5% on the month before
What came in
- Value added tax (VAT)45.3%
- ₦5,878,263,779
- Exchange rate gain33.3%
- ₦4,321,554,812
- Statutory allocation19.2%
- ₦2,496,797,272
- Electronic transfer levy1.5%
- ₦189,505,787
- Ecological fund0.8%
- ₦98,167,312
- Gross allocation
- ₦12,984,288,962
The statutory allocation includes ₦1,629,013,666 in 13% derivation.
What came off first
- External debt repayment
- − ₦651,616,896
- Standing payment orders (ISPO)
- − ₦644,248,763
- Other deductions
- − ₦55,289,565
- Ecology transfer
- − ₦49,083,656
- Net received
- ₦11,584,050,082
Novemberfrom October revenue₦13.18BNo earlier month to compare
The imported figures for November do not add up to its total of ₦13,184,676,339, so only the total is shown. It needs checking against the official report.
What came off first
- Gross allocation
- ₦14,600,731,854
- External debt repayment
- − ₦651,616,896
- Standing payment orders (ISPO)
- − ₦644,248,763
- Other deductions
- − ₦63,637,866
- Ecology transfer
- − ₦56,551,990
- Net received
- ₦13,184,676,339
Decemberfrom November revenue₦15.53B+17.8% on the month before
What came in
- Value added tax (VAT)37.6%
- ₦6,378,183,397
- Exchange rate gain31.9%
- ₦5,414,514,721
- Statutory allocation28.4%
- ₦4,818,450,597
- Electronic transfer levy1.1%
- ₦191,608,997
- Ecological fund1.0%
- ₦164,986,806
- Gross allocation
- ₦16,967,744,518
The statutory allocation includes ₦2,689,824,748 in 13% derivation.
What came off first
- External debt repayment
- − ₦651,616,896
- Standing payment orders (ISPO)
- − ₦644,248,763
- Ecology transfer
- − ₦82,493,403
- Other deductions
- − ₦55,289,565
- Net received
- ₦15,534,095,890
Check the source
About these figures
Source: monthly FAAC disbursement reports (net allocations to Ondo 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.