FG takes ?415 billion out of the budgets allotted to state governments to pay off debt

With deductions of ?131.1 billion and ?45.85 billion, respectively, Lagos and Kaduna suffered the most.Over ?415 billion has been deducted by the federal government from state governments' allotments for debt service.The National Bureau of Statistics (NBS) distribution reports from the Federation Account Allocation Committee (FAAC) show that the deductions were made by the FG between 2019 and 2023. The total amount of funds deducted from the states governments’ accounts was recorded as ?415.12 billion. However, funds deducted in some states like Lagos, Kaduna and Cross River topped the deductions in other states. The FG debited Lagos state with about ?131.1 billion. Kaduna followed suit with a deduction of ?45.85 billion, and Cross River with ?21.59 billion deducted.