Wed. Sep 18th, 2019

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Federal, States, LGs Get N3,84trn FAAC In Six Months – NEITI

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The Federal, States and Local governments shared N3.84trillion allocations between January and June 2019.

This is according to the latest edition of Nigeria Extractive Industries Transparency Initiative (NEITI) Quarterly Review.

In a statement by NEITI’s Director, Communications and Advocacy, Orji Orji, that the Federal Government received N1.599 trillion, the 36 states got N1.335 trillion while the 774 local governments shared N792 billion during the period under review.

The FAAC disbursement of N3.84 trillion for the first half of 2019 was slightly lower than the N3.94 trillion disbursed during the same period in 2018 but higher than the N2.78 trillion disbursed in the first half of 2017.

On a quarter on quarter basis, the second quarter of 2019 was the lowest since the fourth quarter of 2017.

“The quarterly FAAC disbursements from Q1 2013 to Q2 2019 reveal that the total disbursement of N1.913 trillion in the second quarter of 2019 was the lowest since the fourth quarter of 2017 when N1.700 trillion was disbursed. The figure shows that three quarters of 2018 had total disbursements above N2 trillion.”

Meanwhile, Delta State maintained the lead among states of the Federation with the highest share of FAAC allocation during the period under review with N108.7billion, while Osun received the lowest amount of N10.09billion.

The Report which revealed an interesting pattern of wide disparities in disbursements received by states also noted that the disbursements by a majority of the states (27 states) in the first half of 2019 were lower than disbursements in the first half of 2018. Thus, 75% of the states received higher revenue in the first half of 2018 than the first half of 2019

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