In December 2023, nine oil-producing states in Nigeria, including Abia, Akwa Ibom, Anambra, Bayelsa, Delta, Imo, Edo, Ondo, and Rivers, received N57.915 billion as a 13% derivative from mineral revenue, as disclosed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation during the January 2024 FAAC meeting.
This amount marked a decrease from the N75.410 billion shared in November 2023. The overall revenue shared by FAAC for December 2023 amounted to N1.1 trillion distributed among the federal government, states, and local government councils.
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