News FAAC shared N8.15tr to Fed Govt, states, LGA in...

FAAC shared N8.15tr to Fed Govt, states, LGA in 2019

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FAAC shared N8.15tr to Fed Govt, states, LGA in 2019

 

 

 

 

 

 
THE sum of N8.15 trillion was shared between the Federal, States, Local Governments and other statutory recipients by the Federation Accounts and Allocation Committee (FAAC) in 2019.

This figure is N377billion or 4.42 percent lower than the 2018 figure of N8.524trillion, but N1.728trillion or 26.92 percent higher than the total disbursements of N6.419trillion made in 2017.

Out of this amount, the Federal Government received N3.37 trillion, representing 41.4 percent  of total disbursements; the 36 states got N2.761 trillion (33.9 percent ) while the 774 local governments shared N1.649 trillion (20.2 percent) of the total disbursements.

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The information and data are contained in the latest edition of the NEITI Quarterly Review released in Abuja on Thursday by the Nigeria Extractive Industries Transparency Initiative.

Read Also: FAAC shares N635.826b for November

The Director, Communications & Advocacy, Dr. Orji Ogbonnaya Orji, disclosed this in the statement issued in Abuja.

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The publication which examined FAAC Disbursements to the Federal, States and Local governments in 2019, compared the disbursements of the previous years and made projections for the year 2020.

From the publication, and in line with the revenue sharing formula, the FG received the highest disbursements from FAAC while local governments got the lowest.

FAAC shared N8.15tr to Fed Govt, states, LGA in 2019
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