The Nigerian government distributed N1.15 trillion to itself, states, and local governments in January 2024, down from N1.44 trillion the previous year. This came from a total revenue of N2.07 trillion, with N200 billion saved. While statutory revenue and some taxes like company income tax rose, others like value added tax decreased. The federal government received the largest share (N407 billion), followed by states (N379 billion) and local governments (N278 billion). Additionally, N85 billion was distributed to mineral-producing states. Despite increased revenue, this distribution fell short of January 2023’s amount. The remaining balance in the Excess Crude Account stood at $473 million.
