The Federation Account Allocation Committee (FAAC) recently announced that a total N346.240billion was shared by the three tiers of government in August 2009. FAAC also revealed that about N87.715billion (about US$580million) was shared from the excess crude account.

The distribution of the revenue was done at the monthly Federation Accounts Allocation Committee (FAAC) meeting which included the Federal Ministry of Finance; Federal Government major revenue generation agencies and states’ finance commissioners and other representatives as well as the Revenue
Mobilisation, Allocation and Fiscal Commission (RMAFC), the body which designs the indices for
the sharing of the revenue.

In the disbursement of the statutory revenue allocation in the month of August, the Federal Government received the ‘lion share’ of about N96.914billion (52.68 percent) against N125.001billion in July; the 36 states received about N49.156billion (26.72 percent) against N63.402 billion in the preceding month; and local
governments got N37.897billion (20.60 percent) against N48.880 billion in July. The 13 percent derivation for oil producing states was about N15.165 billion as against the N21.984 billion they received the previous month.
Source: RMAFC

The lion's share goes to the federal government, huge sums of money are disappearing as you read, why are you not asking questions?